According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fell this month (10.1-10.31), with an average market price of 257560 yuan/ton at the beginning of the month and 253660 yuan/ton at the end of the month, a decrease of 1.51%.

The tin price showed an upward trend in the first half of this month, followed by a range oscillation, and then rebounded in the second half.

In October, the Wa State of Myanmar issued a notice regarding the mining end. Detailed explanation: Companies applying for exploration and mining licenses, as well as factory operation licenses, must complete the payment within the prescribed time. Otherwise, the company’s application will be cancelled and the relevant mining rights and materials will be reclaimed by the Industrial and Mining Bureau for re planning. As a result, the expectation of resuming production in the Wa State of Myanmar continues to increase, but considering the specific timeline of the process, the probability of resuming production within this year is relatively low, and may be reflected in next year. Supported by the continued shortage of raw materials, tin prices showed an upward trend in the first half of the month.

On the refining end, with the completion of maintenance for large domestic refineries in October, it is expected that production will steadily rebound this month. The operating rate of tin ingots in Yunnan and Jiangxi has significantly returned to normal levels. The export of Indonesian tin ingots continues to recover, and it is expected that they will continue to flow into the domestic market. The import volume of domestic tin ingots in the second half of the year will significantly increase compared to the previous year. The expected increase in accumulated inventory has led to a rebound in tin prices.

On the demand side, there is differentiation in performance. The production of tin solder has improved compared to last month, but overall it is still at a low level. The semiconductor industry is still in the stage of recovery, with sales growth continuing to rebound; The performance in the photovoltaic field remains sluggish.

Overall, there are many uncertain factors at present, but the strengthening of the non-ferrous sector in the short term may drive up tin prices. The recovery of raw material supply poses resistance to the rise in tin prices. At present, it still maintains a range oscillation trend.