On May 25th, the average market price in the East China region was 198510 yuan/ton, an increase of 1.56% compared to the previous working day. The mainstream quotation range for 1 # tin ingot in the domestic spot tin market is 198500 to 200500 yuan/ton, with an average price of 199500 yuan/ton, an increase of 4000 yuan/ton compared to the previous trading day.

On the night of the 24th, non-ferrous metals generally fell, with only Shanghai Tin closing up 0.13%. By the end of the 25th, the main 2306 contract of Shanghai Tin had settled at 196980 yuan/ton, with a closing increase of 2.17%. On the 24th, the ITA International Tin Association stated that the Ministry of Finance of the Wa State in Myanmar issued a notice on May 20, 2023, regarding the implementation of the “suspension of all mineral resource mining”. The policy of ceasing all exploration, mining, processing and other operations in mines after August 1, 2023 will be implemented. After this news was released, the market raised concerns about tin ore supply in the future, and the futures market rose. However, the recent market atmosphere has been generally negative, and demand expectations have been generally weak, resulting in limited overall market growth.

From the perspective of supply and demand, there have been limited changes this week, and manufacturers still have a strong mentality of price competition. The supply at the mining end is tight but has not improved yet, and refineries have a strong reluctance to sell. The demand side has limited changes and still shows weak demand. Overall, the weak downstream demand pattern continues, and the impact of domestic supply and demand on tin prices remains weak. It is necessary to focus on the impact of domestic and foreign macro factors on the market.