According to the monitoring of the Commodity Market Analysis System of the Business Society, the East China region’s 1 # tin ingot market fluctuated and rose this week (5.19-5.26). On May 26th, the average market price was 199310 yuan/ton, and on May 19th, the average market price was 196110 yuan/ton, a weekly increase of 1.63%.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments 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 risen continuously for three months due to macroeconomic factors, and have fallen by 11.35% in a single month since February 2023. From the weekly K-bar chart, it can be seen that the overall trend of the tin ingot market is weak, with a narrow weekly increase after four consecutive weeks of decline.

The futures market experienced a volatile trend in the early part of this week, following the overall market fluctuations. By the night of the 24th, non-ferrous metals had generally declined, with only the Shanghai Tin Index rising 0.13%. By the end of the 25th, the main 2306 contract of Shanghai Tin Index closed at 196980 yuan/ton, with a closing price increase of 2.17%. On the 24th, the ITA International Tin Association stated that the Ministry of Finance of the Wa State in Myanmar issued a notice on May 20, 2023, regarding the implementation of the “suspension of all mineral resource mining”. The policy of ceasing all exploration, mining, processing and other operations in mines after August 1, 2023 will be implemented. After this news was released, the market raised concerns about tin ore supply in the future, and the futures market rose. However, the recent market atmosphere has been generally negative, and demand expectations have been generally weak, resulting in limited overall market growth. From the perspective of supply and demand, there have been limited changes this week, and manufacturers still have a strong mentality of price competition. The supply at the mining end is tight but has not improved yet, and refineries have a strong reluctance to sell. The changes on the demand side are limited, and the demand is still weak. However, the recent significant rise in the semiconductor industry has given the market a certain boost. In terms of inventory, there has been a significant decline in social inventory this week, and trading has been relatively positive this week, boosted by news from Wa State. Overall, the pattern of weak downstream actual demand continues, and the impact of supply and demand on tin prices is relatively weak.

On May 26, 2023, the London Metal Exchange (LME) tin storage increased by 35 tons from 1925 tons

On May 28th, the base metal index stood at 1150 points, unchanged from yesterday, a decrease of 28.84% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 79.13% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, in the 21st week of 2023 (5.22-5.26), there were a total of 11 commodities in the non-ferrous sector that rose month on month in the list of commodity prices. Among them, there were 2 commodities that increased by more than 5%, accounting for 8.7% of the monitored commodities in this sector; The top three commodities with the highest increase were neodymium oxide (5.41%), metallic praseodymium (5.04%), and praseodymium oxide (4.30%). There are 9 products that have decreased month on month, and 2 products that have decreased by more than 5%, accounting for 8.7% of the monitored products in this sector; Top 3 products in decline