According to the monitoring of the commodity market analysis system of the business community, this week’s (7.14-7.21) “V” trend of 1 # tin ingot in East China, the average market price was 233010 yuan/ton on July 21, and 233310 yuan/ton on July 14, down 0.13% weekly.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments 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. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have risen continuously for three months due to macroeconomic factors. Since February 2023, the price has dropped by 11.35% per month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has been rising for nine consecutive weeks.

As Myanmar approaches the mining ban in August, the tin market has been on the rise for 9 consecutive weeks, but the overall increase is limited. Mainly affected by high inventory, the latest data shows that since October 2022, tin ingot inventory has rapidly accumulated, and by the end of April 23, social inventory has reached over 12000 tons, and inventory has been in a high consolidation trend for three consecutive months. However, downstream demand has always been in the off-season, and market expectations for improvement in the future are relatively small. Under the influence of high inventory, the upward space for tin prices may be limited. The downstream market maintains just in demand procurement, and as market prices continue to rise, there is a strong wait-and-see attitude and a strong supply-demand game mentality. In the future, the Business Society believes that tin prices are still following macro fluctuations in the near future. As August approaches, the focus will be on the further impact of Wa news on the market.

On July 23, the base metal index stood at 1214 points, unchanged from yesterday, a decrease of 24.88% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 89.10% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, there were a total of 12 commodities in the non-ferrous sector on the list of commodity prices rising and falling in the 29th week of 2023 (7.17-7.21), of which 3 commodities increased by more than 5%, accounting for 13% of the monitored commodities in this sector; The top three commodities in terms of increase were dysprosium metal (7.01%), dysprosium iron alloy (6.30%) and Dysprosium(III) oxide (6.02%). There are a total of 7 products that have decreased compared to the previous month, with cobalt (-3.55%), copper (-1.09%), and antimony (-0.98%) being the top 3 products in terms of decline. This week’s average increase or decrease was 0.95%.