Chinese tin ingot suppliers hold negative attitudes to the market
2024-04-02 08:22:41 [Print]
BEIJING (Asian Metal) 2 Apr 24 - Most of suppliers of tin ingot held bearish views to the market due to inventory backlog and slow recovery in demand. The current mainstream prices of Chinese tin ingot 99.95%min stand at RMB224,000-226,000/t (USD30,983-31,260/t) EXW 100% down, on par with last Friday. As most downstream clients purchased from hand to mouth, the social inventory would probably increase further. Thus, insiders predicted that the mainstream prices of Chinese tin ingot would go down in the following days.
"As the market demand recovered slowly, our sales volume in March decreased by 40% from the same period time of last year. The domestic market saw surplus of tin ingot during the past month and the supply of imported tin ingot would increase gradually. Therefore we hold a negative attitude to the market." a trader in Shanghai noted. They could consider accepting the price as low as RMB225,000/t (USD31,122/t) EXW 100% down for tin ingot 99.95%min and sold around 10t this morning. They quoted about RMB225,000/t (USD31,122/t) without any concession last Friday and sold about another 10t at such price. They predicted that the mainstream prices of Chinese tin ingot would go down this week.
With a typical monthly trading volume of 400t, the trader would like to sell about 300t this month, in line with last month, holding an inventory of 50t now.
Another trader in Shanghai revealed, "As most downstream clients prefer to watch on sidelines, we bear great inventory pressure. So we remain a pessimistic view to the market." They offered about RMB225,500/t (USD31,191/t) EXW 100% down for tin ingot 99.95%min and refused any lower price today but didn't close any deal due to no inquiry. While they would like to sell at about RMB225,500/t (USD31,119/t) and sold about 15t last Friday. They sold nearly half of their goods to other traders rather than end clients, indicating that market demand didn't see improvement. As inventory of tin ingot continue to build up, they predict that the mainstream prices of Chinese tin ingot would go down in the following days.
The trader, based on a regular monthly trading volume of 800t, plans to sell about 500t this month, unchanged from last month. They hold around 200t of stocks currently.
"As the market demand recovered slowly, our sales volume in March decreased by 40% from the same period time of last year. The domestic market saw surplus of tin ingot during the past month and the supply of imported tin ingot would increase gradually. Therefore we hold a negative attitude to the market." a trader in Shanghai noted. They could consider accepting the price as low as RMB225,000/t (USD31,122/t) EXW 100% down for tin ingot 99.95%min and sold around 10t this morning. They quoted about RMB225,000/t (USD31,122/t) without any concession last Friday and sold about another 10t at such price. They predicted that the mainstream prices of Chinese tin ingot would go down this week.
With a typical monthly trading volume of 400t, the trader would like to sell about 300t this month, in line with last month, holding an inventory of 50t now.
Another trader in Shanghai revealed, "As most downstream clients prefer to watch on sidelines, we bear great inventory pressure. So we remain a pessimistic view to the market." They offered about RMB225,500/t (USD31,191/t) EXW 100% down for tin ingot 99.95%min and refused any lower price today but didn't close any deal due to no inquiry. While they would like to sell at about RMB225,500/t (USD31,119/t) and sold about 15t last Friday. They sold nearly half of their goods to other traders rather than end clients, indicating that market demand didn't see improvement. As inventory of tin ingot continue to build up, they predict that the mainstream prices of Chinese tin ingot would go down in the following days.
The trader, based on a regular monthly trading volume of 800t, plans to sell about 500t this month, unchanged from last month. They hold around 200t of stocks currently.
