On July 31st, the average market price in East China was 265660 yuan/ton, a decrease of 0.87% compared to the previous trading day. The mainstream price range for 1 # tin ingots in the domestic spot tin market is 265000-267000 yuan/ton, with an average price of 266000 yuan/ton, a decrease of 2340 yuan/ton from the previous trading day.
Shanghai Tin experienced a volatile decline in early trading, with a slight decrease in the near to far month basis spread discount in the spot market. As of the second trading session, the price fluctuations were not significant, and the main contract of Shanghai Tin 2509 closed down 0.92% on the 31st.
The downward trend in futures prices continues, and smelters are determined to raise prices and have a strong reluctance to sell, which has restricted trading. In the spot market, the market is volatile, and merchants maintain a pace of shipment. Downstream market demand is limited, and only a small amount of replenishment is carried out based on rigid demand, with no significant changes yet. At present, considering the weak supply and demand situation in the tin market, some market participants remain cautious, and the demand off-season continues, making it difficult to achieve a significant increase in market activity.
In terms of follow-up, the August premium is around 200-600 yuan/ton, the Yunzi Head is around 600-900 yuan/ton, and the Yunxi is around 900-1200 yuan/ton.
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