Chinese tin ingot prices continue to decline
2016-03-01 10:34:36 [Print]
BEIJING (Asian Metal) 1 Mar 16 - Chinese tin prices began to fall back last Friday, and prices for tin ingot continued to decline on Monday with mainstream transaction prices dropping to RMB104,000-105,000/t (USD16,000-16,154/t), down by RMB1,000-1,500/t (USD154-231/t) from last Friday. The demand from downstream consumers is limited and market sees sporadic transactions.
A tin ingot trader based in Shanghai claimed that their transaction prices for Jinlong and Nanshan brand tin ingot slipped to RMB104,200/t (USD16,031/t) on Monday, down by RMB1,300/t (USD300/t) from last Friday. He indicated that the market supply is sufficient and traders compete with each other aggressively to gain business due to the limited demand from downstream consumers; prices are driven down continuously with smelters also persisting in lowering prices for tin to stimulate sales. On Monday morning, quotations for Yunheng and Yunxiang brand tin ingot were at RMB105,500/t (USD16,231/t) and those moved down to RMB104,500/t (USD16,077/t) in the afternoon. The source cautiously holds a negative attitude towards the tin market trend within this week.
The source, working with 1,200tpm, sold around 800t of tin ingot in February and is still holding 20t of Yunxiang brand tin ingot in inventory now. On Monday, they only sold 10t.
Another tin ingot trader based in Shanghai confirmed that they sold 12t of Yunheng brand tin ingot at RMB104,500/t (USD16,077/t) on Monday, down by RMB1,000/t (USD154/t) from last Friday. “The market demand is lackluster coupled with the shortage in confidence, spot prices will certainly follow the downtrend once SHFE tin prices start to move downward,” the source said, expecting that tin prices remain likely to slide this week.
The source, dealing with 800tpm, sold less than 500t in February, a significant decrease compared with the figure of 1,000t in January. The company still holds about 10t in inventory at present.
A tin ingot trader based in Shanghai claimed that their transaction prices for Jinlong and Nanshan brand tin ingot slipped to RMB104,200/t (USD16,031/t) on Monday, down by RMB1,300/t (USD300/t) from last Friday. He indicated that the market supply is sufficient and traders compete with each other aggressively to gain business due to the limited demand from downstream consumers; prices are driven down continuously with smelters also persisting in lowering prices for tin to stimulate sales. On Monday morning, quotations for Yunheng and Yunxiang brand tin ingot were at RMB105,500/t (USD16,231/t) and those moved down to RMB104,500/t (USD16,077/t) in the afternoon. The source cautiously holds a negative attitude towards the tin market trend within this week.
The source, working with 1,200tpm, sold around 800t of tin ingot in February and is still holding 20t of Yunxiang brand tin ingot in inventory now. On Monday, they only sold 10t.
Another tin ingot trader based in Shanghai confirmed that they sold 12t of Yunheng brand tin ingot at RMB104,500/t (USD16,077/t) on Monday, down by RMB1,000/t (USD154/t) from last Friday. “The market demand is lackluster coupled with the shortage in confidence, spot prices will certainly follow the downtrend once SHFE tin prices start to move downward,” the source said, expecting that tin prices remain likely to slide this week.
The source, dealing with 800tpm, sold less than 500t in February, a significant decrease compared with the figure of 1,000t in January. The company still holds about 10t in inventory at present.
Tin Ingot 99.95%min EXW China
Unit:RMB/mt
China tin ingot producers' sales volume statistics by province by month
Unit: mt
