Chinese tin ingot prices move up
2024-04-23 08:26:51 [Print]
BEIJING (Asian Metal) 23 Apr 24 - The prices of Chinese tin ingot soared today despite that most downstream clients purchased from hand to mouth. On Monday, the mainstream prices of Chinese tin ingot 99.95%min stand at RMB281,000-283,000/t (USD38,810-39,087/t) EXW 100% down, up by RMB17,000/t (USD2,348/t) from last Friday. Although the downstream market sees inactive purchases, most insiders predict that the mainstream prices of Chinese tin ingot would go up in the following days.
A trader in Shenzhen disclosed that their sales volume would decrease by 25% from last month as most of their clients purchase from hand to mouth. "We would like to sell tin ingot 99.95%min at about RMB281,000/t (USD38,810/t) EXW 100% down with no more concession but close no deal due to no inquiry this morning". While they last sold around 5t at nearly RMB264,000/t (USD36,463/t) last Friday. Most of their clients have no intention to replenish stocks before upcoming holiday. Even so, they predict that the mainstream prices of Chinese tin ingot would go up within this week.
The trader, based on a regular monthly trading volume of 300t, predicts to sell about 150t this month, down by 50t from last month. They almost hold no inventory now.
"We offer about RMB282,000/t (USD38,948/t) EXW 100% down and refused any lower price for tin ingot 99.95%min and sell around 5t this morning," another trader in Shanghai claimed. They last sold about 2t at nearly RMB264,000/t (USD36,463/t) last Friday when they quoted such price without any concession. Due to sharp rise in prices, most of their clients prefer to consume their own inventory first rather than purchase. Therefore, their sales volume would reduce this month. However, they estimate that the mainstream prices of Chinese tin ingot would go up in the upcoming days.
With a regular monthly trading volume of 800t, the trader predicts to sell about 700t this month, down by 100t from last month, holding no inventory for the time being.
A trader in Shenzhen disclosed that their sales volume would decrease by 25% from last month as most of their clients purchase from hand to mouth. "We would like to sell tin ingot 99.95%min at about RMB281,000/t (USD38,810/t) EXW 100% down with no more concession but close no deal due to no inquiry this morning". While they last sold around 5t at nearly RMB264,000/t (USD36,463/t) last Friday. Most of their clients have no intention to replenish stocks before upcoming holiday. Even so, they predict that the mainstream prices of Chinese tin ingot would go up within this week.
The trader, based on a regular monthly trading volume of 300t, predicts to sell about 150t this month, down by 50t from last month. They almost hold no inventory now.
"We offer about RMB282,000/t (USD38,948/t) EXW 100% down and refused any lower price for tin ingot 99.95%min and sell around 5t this morning," another trader in Shanghai claimed. They last sold about 2t at nearly RMB264,000/t (USD36,463/t) last Friday when they quoted such price without any concession. Due to sharp rise in prices, most of their clients prefer to consume their own inventory first rather than purchase. Therefore, their sales volume would reduce this month. However, they estimate that the mainstream prices of Chinese tin ingot would go up in the upcoming days.
With a regular monthly trading volume of 800t, the trader predicts to sell about 700t this month, down by 100t from last month, holding no inventory for the time being.
