According to the Commodity Market Analysis System of Business Society, from May 1st to 29th, 2024, the 1 # tin ingot market in East China fluctuated and rose, with a market price of 262910 yuan/ton on the 1st and 279210 yuan/ton on the 29th, a monthly increase of 6.2%.

On May 28th, the base metal index was 1392 points, an increase of 18 points from yesterday, a decrease of 13.86% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 116.82% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On May 28th, the tin commodity index was 142.13, an increase of 3.44 points from yesterday, a decrease of 24.28% from the highest point in the cycle of 187.70 points (2022-03-09), and an increase of 231.61% 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 seen more ups and downs in recent times.

In the first half of May, the tin ingot market showed a weak and volatile trend, with poor macro employment data from the United States and a volatile trend in the non-ferrous metal market. The Shanghai tin market followed the overall trend. In terms of supply and demand, there is still a weak supply-demand relationship, especially on the demand side, as the market continued to rise at the end of April, downstream procurement enthusiasm was low, and the demand remained weak due to the need to replenish inventory. After entering mid May, the macro performance improved, and the non-ferrous metal market generally rebounded, driving the tin market to rapidly rise and maintain a period of high volatility. But as tin prices do not count as rising, high prices have suppressed actual downstream demand. Currently, downstream procurement intentions are more wait-and-see, and the overall situation remains to replenish inventory as needed.

In terms of supply and demand: The situation of tight supply at the mining end still exists, and currently, smelting enterprises in the main production areas are maintaining normal production. The overall domestic supply is relatively stable, and the overall performance of the supply side is relatively stable. In terms of demand, with the rise of tin prices, downstream procurement enthusiasm in the market is low, but solder companies have been steadily improving in recent times, and future demand expectations are still promising. Overall, the supply is expected to be stable and the demand is expected to improve. It is expected to maintain stable, medium to strong operation in the short term.

Related data:

According to the latest data released by the National Bureau of Statistics, the production of China’s semiconductor industry surged by 40% in the first quarter of 2024. In March alone, the national integrated circuit production reached 36.2 billion pieces, a year-on-year increase of 28.4%, setting a new historical high.

The report released by the World Bureau of Metals Statistics (WBMS) shows that in March 2024, global refined tin production was 31300 tons, consumption was 24300 tons, and there was an oversupply of 7000 tons. From January to March 2024, the global refined tin production was 89600 tons, with a consumption of 74100 tons and an oversupply of 15500 tons. In March 2024, the global tin ore production was 27000 tons. From January to March 2024, the global tin ore production was 78900 tons.