Chinese tin ingot price drops slightly
2016-03-17 12:24:57 [Print]
BEIJING (Asian Metal) 17 Mar 16 - On Wednesday, mainstream transaction prices for Chinese tin ingot fell to RMB109,000-111,000/t (USD16,769-17,077/t), down by RMB500/t (USD77/t) from Tuesday. Supply and demand are both sluggish with smelters inactive in concluding deals and downstream consumers only making purchases based on solid demand.
A tin ingot trader based in Shanghai indicated that they sold a total 5t of tin ingot in YT brand and Yinsheng brand respectively at RMB110,800/t (USD17,046/t) and RMB109,300/t (USD16,815/t), all down by RMB500/t (USD77/t) from Tuesday. The source claimed that the SHFE tin performs flat this week and the tin price is dragged down due to the limited downstream demand. She predicted that the spot tin price will fluctuate at the current level this week.
The source, dealing with about 400t of tin ingot per month, sold less than 200t in February with sales of nearly 450t in January. They hold no stocks of tin ingot at present.
Another tin ingot trader in Shanghai confirmed that they sold a total of 20t of tin ingot in brands of Yinsheng, Yunxiang and Yunxiang (by Gejiu Kaimeng Industry & Trade Co., Ltd) respectively at RMB109,000/t (USD16,769/t), RMB109,500/t (USD16,846/t) and RMB109,700/t (USD16,877/t), all down by RMB500/t (USD77/t) from Tuesday. He said that smelters only release limited materials, but the downstream demand remains sluggish. Therefore, it is difficult for the tin price to hold stable. He pessimistically expected that the price may drop to RMB105,000/t (USD16,154/t).
The source, dealing with about 800t of tin ingot per month, sold 300-400t in February with sales of nearly 1,000t in January. They still hold 30t of tin ingot stocks at present.
A tin ingot trader based in Shanghai indicated that they sold a total 5t of tin ingot in YT brand and Yinsheng brand respectively at RMB110,800/t (USD17,046/t) and RMB109,300/t (USD16,815/t), all down by RMB500/t (USD77/t) from Tuesday. The source claimed that the SHFE tin performs flat this week and the tin price is dragged down due to the limited downstream demand. She predicted that the spot tin price will fluctuate at the current level this week.
The source, dealing with about 400t of tin ingot per month, sold less than 200t in February with sales of nearly 450t in January. They hold no stocks of tin ingot at present.
Another tin ingot trader in Shanghai confirmed that they sold a total of 20t of tin ingot in brands of Yinsheng, Yunxiang and Yunxiang (by Gejiu Kaimeng Industry & Trade Co., Ltd) respectively at RMB109,000/t (USD16,769/t), RMB109,500/t (USD16,846/t) and RMB109,700/t (USD16,877/t), all down by RMB500/t (USD77/t) from Tuesday. He said that smelters only release limited materials, but the downstream demand remains sluggish. Therefore, it is difficult for the tin price to hold stable. He pessimistically expected that the price may drop to RMB105,000/t (USD16,154/t).
The source, dealing with about 800t of tin ingot per month, sold 300-400t in February with sales of nearly 1,000t in January. They still hold 30t of tin ingot stocks 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
