Chinese tin ingot prices drop
2023-03-14 08:18:43 [Print]
BEIJING (Asian Metal) 14 Mar 23 - Discouraged by weak demand, the prices of tin ingot 99.95%min went down slightly today. The current mainstream prices of Chinese tin ingot 99.95%min stand at RMB185,000-187,000/t (USD26,547-26,834/t) EXW 100% down, down by RMB1,000/t (USD143/t) from last Friday. Insiders believed that the mainstream prices of Chinese tin ingot would go down further discouraged by sluggish deals.
"We sold about 1t of tin ingot 99.95%min at around RMB186,000/t(USD26,690/t) EXW 100% down and refused any lower price this morning," a Shanghai-based trader claimed. While they sold about another 1t at RMB187,000/t(USD26,834/t) last Friday with no more concession. Their sales volume decreased by 40% since early last month. Due to few orders, they predict that the mainstream prices of Chinese tin ingot would edge down tomorrow.
With a typical monthly trading volume of 200t, the trader plans to sell about 90t this month, up by 10t from last month, holding no inventory currently.
"We could consider accepting the price as low as RMB185,500/t(USD26,619/t) EXW 100% down and sold about 30t today, down by around RMB1,000/t(USD143/t) from last Friday and they sold about 10t at RMB186,000/t(USD26,690/t) without any concession," a producer in Guangdong noted. While they had strong intention to get rid of inventories discouraged by weak market demand during the past week and they estimated the mainstream prices of Chinese tin ingot would move down tomorrow.
With an annual production capacity of 50,000t, the company plans to produce about 100t in March, in line with last month. They have about 60t of inventories now.
"We sold about 1t of tin ingot 99.95%min at around RMB186,000/t(USD26,690/t) EXW 100% down and refused any lower price this morning," a Shanghai-based trader claimed. While they sold about another 1t at RMB187,000/t(USD26,834/t) last Friday with no more concession. Their sales volume decreased by 40% since early last month. Due to few orders, they predict that the mainstream prices of Chinese tin ingot would edge down tomorrow.
With a typical monthly trading volume of 200t, the trader plans to sell about 90t this month, up by 10t from last month, holding no inventory currently.
"We could consider accepting the price as low as RMB185,500/t(USD26,619/t) EXW 100% down and sold about 30t today, down by around RMB1,000/t(USD143/t) from last Friday and they sold about 10t at RMB186,000/t(USD26,690/t) without any concession," a producer in Guangdong noted. While they had strong intention to get rid of inventories discouraged by weak market demand during the past week and they estimated the mainstream prices of Chinese tin ingot would move down tomorrow.
With an annual production capacity of 50,000t, the company plans to produce about 100t in March, in line with last month. They have about 60t of inventories now.
