This week, the spot tin market price (12.30-1.6) fluctuated downward. The average domestic market price was 208160 yuan/ton at the end of last week and 202360 yuan/ton at the end of this week, down 2.79%.

The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the above figure that the tin price rose continuously after November 2022 due to the influence of macro factors, and began to decline after 23 years.

In the futures market, this week’s shock was the main factor, with a weekly drop of more than 2.5%. In the macro aspect, the hawkish statement of the Federal Reserve once again affected the market, and there was no intention to cut interest rates in 2023. The US non-agricultural data warmed up again. The market’s risk aversion gradually increased, affecting the market mentality, and the metal market generally fell.

In the spot market, affected by the futures market, the tin price has been continuously reduced this week. From the basic point of view, the current operating rate has not changed much, and the overall increase is small. The overall performance is a loose supply pattern. In terms of downstream demand, there is a certain demand for stock preparation before the holiday. Downstream enterprises purchase on bargain hunting, and domestic inventory has declined slightly. However, as the holiday approaches, the stock preparation in the downstream is basically coming to an end. Some enterprises have introduced holiday arrangements, which is a negative market mentality. The business agency expects that the tin price in the future market will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a broad volatility trend.

 
The non-ferrous index stood at 1179 points on January 8, unchanged from yesterday, down 23.34% from the highest point of 1538 points in the cycle (2021-10-18), and up 94.23% from the lowest point of 607 points on November 24, 2015. (Note: the period refers to 2011-12-01 to now).

According to the price monitoring of the Business Agency, there were seven commodities in the non-ferrous sector in the list of commodity prices rising and falling in the first week of 2023 (1.2-1.6), with the top three commodities rising respectively being metal praseodymium (2.19%), antimony (1.67%) and neodymium oxide (1.30%). There are 10 commodities with a month-on-month decline, and 2 commodities with a decline of more than 5%, accounting for 8.7% of the monitored commodities in this sector; The top three products falling were nickel (- 9.87%), aluminum (- 5.30%) and silver (- 3.84%). The average rise and fall of this week was -0.93%.