According to the commodity market analysis system of Business Society, in November 2023, the domestic 1 # tin ingot market first rose and then fell, with an overall decline. The average price in the domestic market was 205260 yuan/ton at the beginning of the month and 196260 yuan/ton at the end of the month, a decrease of 4.38%.

On November 28th, the base metal index was 1139 points, a decrease of 8 points from yesterday, a decrease of 29.52% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 77.41% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On November 28th, the tin commodity index was 98.87, a decrease of 3.52 points from yesterday, a decrease of 47.33% from the highest point in the cycle of 187.70 points (2022-03-09), and an increase of 130.68% from the lowest point of 42.86 points on December 9th, 2015. (Note: The cycle refers to 2011-09-01 present).

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The monthly K-bar chart shows significant fluctuations in tin prices. From the weekly K-bar chart, it can be seen that the tin market has experienced more recent declines and less recent gains.

In November 2013, the tin ingot market first rose and then fell. In the first half of the month, Shanghai tin fluctuated upwards, while in the second half, it fell under pressure. The trend of London tin and spot markets basically followed the fluctuations of Shanghai tin. From the perspective of supply and demand, the overall operation of smelters is relatively high, and the supply of domestically produced tin ingots is relatively loose. According to customs data on imported tin ingots, the cumulative import volume from January to October 2023 was 23100 tons, a year-on-year increase of 2.57%. With the good profitability of imported tin ingots in China, the number of imported tin ingots in China has increased significantly recently. In October, the monthly import volume increased by 13.6% compared to the previous month, and the import volume continues to increase. Overall, the domestic supply of tin ingots is relatively loose. In terms of demand, the downstream terminal consumer market still performs weakly, and the overall expectation of solder demand is still weak. Most consumer terminals maintain a wait-and-see attitude, and have actively reduced inventory. The procurement of raw material tin ingots is in high demand, but with the decrease in market prices, downstream entry enthusiasm has increased, and some low-priced transactions have been made in the market, resulting in overall active trading. From a comprehensive perspective in the future market, there is sufficient supply of tin ingots and weak downstream demand. Domestic inventory is generally at a high level, and fundamental tin prices are under overall pressure. It is expected that the tin ingot market will continue to operate steadily with a weak trend in the future. In the near future, we will focus on the impact of macroeconomic fluctuations on the market.

Related data:

According to data from the General Administration of Customs, the import volume of tin ore sand and concentrate in China in October 2023 was 25299 tons, an increase of 85.59% year-on-year and 112.26% month on month.

According to data released by the World Bureau of Metals Statistics (WBMS), in September 2023, the global refined tin production was 31300 tons, the consumption was 31600 tons, and there was a supply shortage of 0300 tons. The global tin ore production in September 2023 was 27800 tons.