Tin Prices After The Market Trend Remains To Be Seen

Yesterday prices sharply upward, daily gain of more than 4%, investigate its reason, mainly because the market for the fed to raise interest rates expected to slightly lower, the dollar index fell to a month to a new low, and the market demand for top consumer China metal prospects are optimistic expectations, boost in all of London metal market movements to the spot after the previous continuous slashed, release of market risk to a certain extent, There is also some demand for a pullback, so tin prices have risen sharply.

But the market is not pleased, mainly because the recent decline in tin prices has been too steep.

Into five months after recent weak economic data in major economies, the United States and the euro zone's manufacturing activity slowed, while China because of the strict COVID - 19 outbreak control measures, cause the manufacturing activity, global manufacturing growth limited damage, requirements of metal, also makes the market worried about the economy downside risks, superposition of the fed raising interest rates cycle begins, the colored price forming, Overall, this month the non-ferrous metal market overall downward, and tin price of the high base led to a greater downward range.

Late, as home prices fell, though they have narrowed import profits, but the spot import window will remain open and subsequent import tin ingot will continue into the country in great quantities, to crack down on domestic price, and the current tin a loosening of supply and demand pattern, supply side, the domestic tin ingot production slightly reduced compared to the April but still at historically high position during this period, the demand side, Tin downstream processing enterprises are limited by logistics efficiency, consumption has weakened, wait-and-see sentiment is strong, bargain on demand procurement. In the near future, the market mentality is mainly empty, although not stampede, but the possibility of price decline is still large, tin prices are expected to fall. In June, the price was around 250,000 to 280,000 yuan.