Chinese tin ingot suppliers hold bearish attitudes to the market
2024-04-17 08:22:30 [Print]
BEIJING (Asian Metal) 17 Apr 24 - Although the current mainstream prices of Chinese tin ingot 99.95%min increased by RMB4,000/t (USD552/t) to around RMB255,000-257,000/t (USD35,232-35,508/t) EXW 100% down from yesterday, most downstream clients purchase from hand to mouth due to rapidly rising in raw material prices. Thus, insiders predict that the mainstream prices of Chinese tin ingot would move down in the following days discouraged by dim market.
A trader in Beijing added, "We estimate that our sales volume would decrease this month as most of our downstream clients prefer to wait and see the market caused by sharply rising in raw material prices. Therefore, we hold pessimistic view to the market." They would like to sell tin ingot 99.95%min at about RMB257,000/t (USD35,508/t) EXW 100% down with a concession of RMB1,000t (USD138/t) today but close no deal due to no inquiry. While they last sold around 6t at nearly RMB252,000/t (USD34,818/t) yesterday. They have no inventory and trade back to back to keep prices from falling and predict that the mainstream prices of Chinese tin ingot would go down in the forthcoming days.
The trader, based on a regular monthly trading volume of 200t, predicts to sell about 90t this month, down by 10t from last month. They hold no inventory now.
"Most of our downstream clients purchase from hand to mouth, especially the prices of tin ingot increase significantly, leading to a heightened mood of wait-and-see from them. So, we hold negative attitude view to the market," another trader in Shanghai reported. They could consider accepting the price as low as RMB258,000/t (USD35,646/t) EXW 100% down for tin ingot 99.95%min today but close no deal due to no inquiry. While they last sold about 5t at RMB254,000/t (USD35,094/t) yesterday. Given that most downstream clients hold watchful attitudes to the market, they estimate that the mainstream prices of Chinese tin ingot would go down in the upcoming days.
With a regular monthly trading volume of 200t, the trader forecasts to sell about 100t this month, unchanged from last month, holding no inventory presently.
A trader in Beijing added, "We estimate that our sales volume would decrease this month as most of our downstream clients prefer to wait and see the market caused by sharply rising in raw material prices. Therefore, we hold pessimistic view to the market." They would like to sell tin ingot 99.95%min at about RMB257,000/t (USD35,508/t) EXW 100% down with a concession of RMB1,000t (USD138/t) today but close no deal due to no inquiry. While they last sold around 6t at nearly RMB252,000/t (USD34,818/t) yesterday. They have no inventory and trade back to back to keep prices from falling and predict that the mainstream prices of Chinese tin ingot would go down in the forthcoming days.
The trader, based on a regular monthly trading volume of 200t, predicts to sell about 90t this month, down by 10t from last month. They hold no inventory now.
"Most of our downstream clients purchase from hand to mouth, especially the prices of tin ingot increase significantly, leading to a heightened mood of wait-and-see from them. So, we hold negative attitude view to the market," another trader in Shanghai reported. They could consider accepting the price as low as RMB258,000/t (USD35,646/t) EXW 100% down for tin ingot 99.95%min today but close no deal due to no inquiry. While they last sold about 5t at RMB254,000/t (USD35,094/t) yesterday. Given that most downstream clients hold watchful attitudes to the market, they estimate that the mainstream prices of Chinese tin ingot would go down in the upcoming days.
With a regular monthly trading volume of 200t, the trader forecasts to sell about 100t this month, unchanged from last month, holding no inventory presently.
