On March 16th, the average market price in East China was 179660 yuan/ton, down 4.42% from the previous trading day. The mainstream quotation range of 1 # tin ingot in the domestic spot tin market is 179000-180500 yuan/ton, with an average price of 179750 yuan/ton, a decrease of 8500 yuan/ton compared to the previous trading day.
On the night of the 15th, crude oil fell sharply, while the US dollar closed up 1%. The combination of bearish factors such as the Credit Suisse crisis affected market sentiment. The metal market fell throughout the night, with Shanghai Tin leading the decline of 4.17% in internal trading. In the morning of 16th, the metal decline slightly narrowed, but tin was strongly affected by the macro market. In the morning of 16th, it still fell by more than 3%, and the spot market significantly decreased following the trend of futures.
From the perspective of supply and demand, recent changes in tin have been limited, with both supply and demand weak. The recent fluctuations mainly follow the macro trend. In the future, the tin market still maintains a weak trend, and it is necessary to focus on the actual downstream demand and the impact of domestic and foreign macro policies on the market mentality.
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