Chinese tin ingot market saw few deals
2023-04-18 08:13:55 [Print]
BEIJING (Asian Metal) 18 Apr 23 - As Myanmar's Wa state orders mines to stop operation from August 1st, the prices of Chinese tin ingot 99.95%min went up dramatically today. However, Chinese tin ingot market saw few deals as most downstream client purchased with cautious views. On Monday, the current mainstream prices of Chinese tin ingot 99.95%min stand at RMB208,000-210,000/t (USD30,361-30,653/t) EXW 100% down, up by RMB12,000/t (USD1,752/t) from last Friday. Insiders predict that the mainstream prices of Chinese tin ingot 99.95%min would go up tomorrow.
"We quoted RMB209,000/t (USD30,507/t) EXW 100% down for tin ingot 99.95%min with no more concession and sold about 20t this morning. But as the price soared further, we didn't get any more inquiries", a producer in Yunnan claimed. They quoted RMB197,000/t (USD28,755/t) and refused any lower price and sold around 20t last Friday. Given the tight supply, they predicted that the mainstream prices of Chinese tin ingot 99.95%min would edge up this week in spite of weak demand.
With an annual production capacity of 20,000t for tin ingot, the producer plans to produce about 600t in April, in line with last month, hold an inventory of 200t at present.
Another Yunnan-based producer disclosed, "We didn't have an offer today as the prices of tin ingot went up quite sharply today. As far as I know, most of suppliers don't quote because downstream customers hold watchful attitudes to the market at such high prices." They could consider accepting the price as low as RMB197,000/t (USD28,755/t) EXW 100% down for tin ingot 99.95%min and sold nearly 5t at such price last Friday. As Myanmar's Wa state orders mines to stop operation from August 1st, they had strong intention to watch on sidelines and predicted that the mainstream prices of Chinese tin ingot 99.95%min would go up tomorrow.
The producer, based an annual production capacity of 5,000t for tin ingot, plans to produce about 150t in April, unchanged from March. Now they hold about 200t of stocks.
"We quoted RMB209,000/t (USD30,507/t) EXW 100% down for tin ingot 99.95%min with no more concession and sold about 20t this morning. But as the price soared further, we didn't get any more inquiries", a producer in Yunnan claimed. They quoted RMB197,000/t (USD28,755/t) and refused any lower price and sold around 20t last Friday. Given the tight supply, they predicted that the mainstream prices of Chinese tin ingot 99.95%min would edge up this week in spite of weak demand.
With an annual production capacity of 20,000t for tin ingot, the producer plans to produce about 600t in April, in line with last month, hold an inventory of 200t at present.
Another Yunnan-based producer disclosed, "We didn't have an offer today as the prices of tin ingot went up quite sharply today. As far as I know, most of suppliers don't quote because downstream customers hold watchful attitudes to the market at such high prices." They could consider accepting the price as low as RMB197,000/t (USD28,755/t) EXW 100% down for tin ingot 99.95%min and sold nearly 5t at such price last Friday. As Myanmar's Wa state orders mines to stop operation from August 1st, they had strong intention to watch on sidelines and predicted that the mainstream prices of Chinese tin ingot 99.95%min would go up tomorrow.
The producer, based an annual production capacity of 5,000t for tin ingot, plans to produce about 150t in April, unchanged from March. Now they hold about 200t of stocks.
