Chinese tin ingot market suppliers hold negative attitudes
2023-04-07 07:44:53 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Most of suppliers of tin ingot held bearish views to the market due to weak market demand
A trader in Shanghai reported, "As most of our clients prefer to hold watchful attitudes to the market, we didn't receive any inquiry today." The trader could consider accepting the price as low as RMB198,000/t (USD28,791/t) EXW 80% down today but failed to close any deal. While they offered around RMB204,000/t (USD29,663/t) with no more bargaining and sold about 2t at such price on Tuesday . Due to dim market, they predict that the mainstream prices of Chinese tin ingot would go down tomorrow.
The trader, based on a typically monthly trading volume of 90t. They plan to sell about 30t this month, up by around 10t from last month, holding no inventory for the time being.
"As we hold bearish view to the market, we don't have any inventory at the moment", a Jiangxi-based producer revealed. They could consider accepting the price as low as RMB197,000/t (USD28,645/t) EXW 80% down for tin ingot 99 . 95%min but didn't conclude any deal due to no inquiry today. While they quoted about RMB203,000/t (USD29,518/t) without any concession and sold about 20t on Tuesday . In view of dim market and wait and see attitudes from downstream clients, they believe that the mainstream prices of Chinese tin ingot would edge down tomorrow.
With an annual production capacity of 10,000t, the company plans to produce about 600t in April, in line with last month. They almost have no inventory now.
. Currently, the mainstream prices of Chinese tin ingot 99.95%min stand at RMB196,000-198,000/t (USD28,500-28,791/t) EXW 80% down, down by RMB6,000/t (USD872/t) from Tuesday . Insiders predict that the mainstream prices of Chinese tin ingot would move down tomorrow.
A trader in Shanghai reported, "As most of our clients prefer to hold watchful attitudes to the market, we didn't receive any inquiry today." The trader could consider accepting the price as low as RMB198,000/t (USD28,791/t) EXW 80% down today but failed to close any deal. While they offered around RMB204,000/t (USD29,663/t) with no more bargaining and sold about 2t at such price on Tuesday . Due to dim market, they predict that the mainstream prices of Chinese tin ingot would go down tomorrow.
The trader, based on a typically monthly trading volume of 90t. They plan to sell about 30t this month, up by around 10t from last month, holding no inventory for the time being.
"As we hold bearish view to the market, we don't have any inventory at the moment", a Jiangxi-based producer revealed. They could consider accepting the price as low as RMB197,000/t (USD28,645/t) EXW 80% down for tin ingot 99 . 95%min but didn't conclude any deal due to no inquiry today. While they quoted about RMB203,000/t (USD29,518/t) without any concession and sold about 20t on Tuesday . In view of dim market and wait and see attitudes from downstream clients, they believe that the mainstream prices of Chinese tin ingot would edge down tomorrow.
With an annual production capacity of 10,000t, the company plans to produce about 600t in April, in line with last month. They almost have no inventory now.