According to the monitoring of the Commodity Market Analysis System of Business Society, the market trend of 1 # tin ingot in East China this week (10.13-10.20) was fluctuating. On October 13th, the average market price was 213810 yuan/ton, and on October 20th, the average market price was 217660 yuan/ton, with a weekly increase of 1.8%.

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. Since February 2023, the price has dropped by 11.35% per 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 recent trend of the tin ingot market has been narrow and volatile.

In terms of the futures market, the main trend in this cycle was the rise and then fall of Shanghai Tin, which was volatile. On Friday, the stock market had low sentiment and weak risk sentiment, with non-ferrous metals generally under pressure and declining, while Shanghai Tin followed suit. From the perspective of supply and demand, there is still a tight supply at the mining end, and the recent changes in smelter production have been limited, with little change in supply compared to the previous period. In terms of demand, the downstream market concentrated on buying and restocking before the holiday in September. Recently, it is still digesting inventory, and the intention to restock is low. Recently, the spot market has slightly increased with the tin market, once again suppressing downstream purchasing intentions. However, from the perspective of downstream terminal consumption, there has not been a significant improvement, and market expectations for the future are weak. With the increase in domestic import sources, domestic tin ingot inventory continues to accumulate, which is negative for the market. Recently, tin prices have fluctuated and declined. In the future, it is expected that the tin market will mainly operate weakly in the short term.

On October 22, the base metal index stood at 1194 points, unchanged from yesterday, down 26.11% from the cycle’s highest point of 1616 points (2022-03-09), and up 85.98% 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 the Business Society, there were a total of 6 commodities in the non-ferrous sector that rose month on month in the 42nd week of 2023 (10.16-10.20) commodity price rise and fall list, with cobalt (4.25%), gold (2.21%), and lead (1.11%) among the top 3 commodities that rose. There are a total of 11 products that have decreased compared to the previous month, with nickel (-1.80%), praseodymium neodymium alloy (-1.53%), and zinc (-1.49%) ranking among the top three products. This week’s average increase or decrease was -0.07%.