On the 4th, the spot price of Shanghai tin was 175000-177000 yuan / ton, with an average price of 176000 yuan / ton, down 3000-3500 yuan / ton from the previous trading day. Macro pressure, most of the non-ferrous metal market downward, Lunxi Huxi both fell, spot market prices fell. Refineries have strong price support sentiment, frequent price fluctuations, mainly wait-and-see market, and purchase on demand.
The supply side is expected to remain tight under the dual impact of Myanmar’s export volume reduction and yinman mining’s shutdown and self inspection. At present, the operation of the downstream is normal, but the tin price fluctuates greatly. Most of the downstream replenishment is on demand, and it is difficult to find low-cost sources. On the 3rd, LME Lunxi’s inventory closed at 1720 metric tons, unchanged from the day before yesterday. In the future, the business community believes that in the long run, as the consumer side gradually recovers, in the case of tight supply, the decline of tin ingot inventory may have some support for the market price.
Relevant data:
LME tin inventory distribution on March 3, 2021
Myanmar’s military issues a one-year state of emergency
According to Wu Miu NYU, a spokesman for Myanmar’s ruling Democratic League, in the early hours of February 1, local time, Myanmar’s ruling party leader Aung San Suu Kyi, President Wen Min, chief ministers of Irrawaddy province and Shan state, chairman of the kayah State Party, members of Parliament from some important constituencies and some political activists were detained by the military. The military has entered and controlled several provincial and state parliaments. In addition, several channels of Myanmar state television have been interrupted.
Myanmar’s military issues a one-year state of emergency
Xinhua News Agency news: Myanmar’s military said in a statement on the 1st that a one-year state of emergency will be implemented in accordance with the provisions of the constitution.
Myanmar military TV station: the presidential palace announced the transfer of state power to the commander-in-chief of the national defense forces, min Aung Lai
Xinhua News Agency news: Burmese military television said on the 1st that the presidential palace announced the transfer of state power to the commander-in-chief of the national defense forces, min Aung Lai.
WBMs: 12200 tons of global tin shortage in 2020
According to the report released by the world Bureau of Metal Statistics (WBMs), the global tin market will be short of supply for 1 year from January to December 2020. 220000 tons. The global total reported inventory is 5300 tons lower than that in 2019.
From January to December 2020, the global report of refined tin crystal production increased by 4000 tons compared with the same period last year. China’s apparent demand increased by 38% over the same period last year.
From January to December 2020, the global demand for tin will be 383600 tons, an increase of 4.6% over the same period last year. Japan’s demand is 20200 tons, 19% lower than that in 2019.
In December 2020, the global refined tin output is 36600 tons, and the consumption is 35800 tons.
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