Chinese tin concentrate suppliers hold bearish attitudes to the market
2024-03-12 08:24:05 [Print]
BEIJING (Asian Metal) 12 Mar 24 - Although the prices of tin concentrate went down today, most suppliers held optimistic views to the market due to tight supply. The current mainstream prices of Chinese tin concentrate 60%min stand at RMB208,000-210,000/metal ton (USD28,950-29,228/metal ton) delivered D/P in China, down by RMB2,000/metal ton (USD278/metal ton) from last Friday. Driven by bullish attitudes from most suppliers, insiders predicted that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days.
A trader in Hunan disclosed, "As the market saw tight supply during the past week, we replenished spot goods with difficulty. Thus, we hold positive view to the market in spite of a decrease in price today." They quoted about RMB209,000/metal ton (USD29,089/metal ton) delivered D/P for tin concentrate 60%min and refused any lower price today but didn't close any deal due to no inquiry. They didn't conclude any deal last Friday when they offered about RMB211,000/metal ton (USD29,368/metal ton) for the same reason. While they last sold about 60 metal tons at about RMB208,000/metal tons (USD28,950/metal ton) last Wednesday. Due to limited market raw material, they predict that the mainstream prices of Chinese tin concentrate would go up in the following days.
The trader, based on a regular monthly trading volume of 500 metal tons, plans to sell about 200 metal tons this month, on par with last month, holding an inventory of 200 metal tons now.
"The prices of tin concentrate would go up as most smelters increased their operation rates gradually." another trader in Yunnan stated. They could consider accepting the price as low as RMB204,000/metal ton (USD28,393/metal ton) delivered D/P for tin concentrate 40%min but didn't close any deal due to no inquiry. For the same reason, they didn't close any deal last Friday when they quoted about RMB206,000/metal ton (USD28,672/metal ton) with no more concession. While they last sold about 30 metal tons at nearly RMB205,000/metal tons (USD28,533/metal ton) last Thursday. Stimulated by bullish attitude, they estimate that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days.
With a typical monthly trading volume of 500 metal tons, they plan to sell about 200 metal tons this month, up by 50 metal tons from last month, holding an inventory of about 150 metal tons currently.
A trader in Hunan disclosed, "As the market saw tight supply during the past week, we replenished spot goods with difficulty. Thus, we hold positive view to the market in spite of a decrease in price today." They quoted about RMB209,000/metal ton (USD29,089/metal ton) delivered D/P for tin concentrate 60%min and refused any lower price today but didn't close any deal due to no inquiry. They didn't conclude any deal last Friday when they offered about RMB211,000/metal ton (USD29,368/metal ton) for the same reason. While they last sold about 60 metal tons at about RMB208,000/metal tons (USD28,950/metal ton) last Wednesday. Due to limited market raw material, they predict that the mainstream prices of Chinese tin concentrate would go up in the following days.
The trader, based on a regular monthly trading volume of 500 metal tons, plans to sell about 200 metal tons this month, on par with last month, holding an inventory of 200 metal tons now.
"The prices of tin concentrate would go up as most smelters increased their operation rates gradually." another trader in Yunnan stated. They could consider accepting the price as low as RMB204,000/metal ton (USD28,393/metal ton) delivered D/P for tin concentrate 40%min but didn't close any deal due to no inquiry. For the same reason, they didn't close any deal last Friday when they quoted about RMB206,000/metal ton (USD28,672/metal ton) with no more concession. While they last sold about 30 metal tons at nearly RMB205,000/metal tons (USD28,533/metal ton) last Thursday. Stimulated by bullish attitude, they estimate that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days.
With a typical monthly trading volume of 500 metal tons, they plan to sell about 200 metal tons this month, up by 50 metal tons from last month, holding an inventory of about 150 metal tons currently.
