On January 11, the mainstream quotation range of 1 # tin ingot in the spot market in East China was 207500-209500 yuan/ton, with an average price of 208500 yuan/ton, up 4750 yuan/ton from the previous trading day.
On the night of the 10th, the US dollar fluctuated in a narrow range at the lowest level in the past seven months, up 0.1%, while Lunxi rose 0.22% and Shanghaitin rose 0.82%. As of the 11th, the closing settlement price of the main Shanghai-tin 2302 contract was 208960 yuan/ton, up 3.96%.
Tin prices have risen continuously in the past two days, mainly boosted by positive macro factors. Basically, the current operating rate has risen slightly, and the overall performance is a loose supply pattern. In terms of downstream demand, the pre-season stock preparation has basically come to an end, some enterprises have made holiday arrangements, solder enterprises have started to decline, tin ingot inventory has recently rebounded, terminal electronic goods and other goods have performed poorly in January, and demand support is limited. In the future, the business agency believes that the tin price will be dominated by negative in the long run, and it is expected that the overall weak operation will prevail. In the short term, it is still affected by many macro factors, maintaining a broad volatility trend.