Price Trend
This week (4.22-4.26) the domestic 1_tin ingot Market declined, with the average domestic market price at 146,825 yuan/ton at the beginning of the week and 146,100 yuan/ton at the end of the week, down 0.49%.
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On April 27, the tin commodity index was 74.42, unchanged from yesterday, down 25.77% from the cyclical peak of 100.25 points (2011-09-05), and up 73.64% from the lowest point of 42.86 on December 09, 2015. (Note: Period refers to 2011-09-01 to date).
II. Market Trend Analysis
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Domestic market: This week, affected by Shanghai Tin, the main spot transaction price dropped from 146000-147000 yuan/ton on Monday to 145500-146500 yuan/ton on Friday. In terms of lifting and discharging, the discount area has been reduced this week, from 900-1800 yuan/ton to 500-1200 yuan/ton. Trading situation, the market wait-and-see mood is strong, trading in general.
Non-ferrous industry: This week, the US data is bright, the euro zone data is weak, the US dollar index has finally got rid of the oscillating platform range in the past two years, hitting a two-year high of 98.3. Most of the basic metals are under pressure, and the May Day is coming. Risk aversion factors and weak consumption make most of the products difficult to highlight.
3. Prospects for the Future Market
Next week, there will be only two trading days in China. The market will focus on risk aversion, position reduction and inventory reduction. It is expected that most items will remain volatile and will return after the festival to await the guidance of the external market.
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