According to the monitoring of the commodity market analysis system of Business Society, the 1 # tin ingot market in East China rose first and then fell this week (3.4-3.11). The average market price at the beginning of last week was 28710 yuan/ton, while the average market price at the beginning of this week was 221560 yuan/ton, up 1.3% for the week.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has seen more ups and downs in recent times.

In terms of supply, with the end of the holiday, smelting enterprises that had previously stopped work in Yunnan have resumed work. Recently, they have basically resumed normal production, and enterprises that have undergone early maintenance have also started work. Tin ingot production is gradually returning to normal, but the supply at the mining end is still tight, and the impact on the market is still relatively low. Downstream photovoltaic companies have performed well in terms of demand, with recent recovery in terminal demand orders and some recovery in market demand for semiconductors, electronic products, and other products. Market expectations have improved. Overall, the recent downstream performance has been good, driving the market atmosphere to rebound. The tin ingot market has been rising for two consecutive weeks. It is expected that in the short term, under the influence of relatively stable macro news, the tin ingot market will mainly operate in a stable and strong manner. As the second quarter approaches, the market’s focus will still be on the news of resuming production in Wa State, with a focus on changes in processing fees in the future.

Related data:

On March 10th, the base metal index was 1185 points, unchanged from yesterday, down 26.67% from the highest point in the cycle of 1616 points (2022-03-09), and up 84.58% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On March 10th, the non-ferrous index was 1108 points, unchanged from yesterday, a decrease of 27.96% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 82.54% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 10th week of 2024 (3.4-3.8), there were a total of 8 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were gold (3.55%), silver (2.92%), and zinc (2.69%). There are a total of 12 products with a month on month decline, and the top 3 products with the largest decline are metal praseodymium (-3.43%), magnesium (-3.27%), and praseodymium neodymium alloy (-2.29%). The average increase and decrease this week is -0.11%.