European tin ingot market sees inactive purchases
2024-03-15 08:20:25 [Print]
BEIJING (Asian Metal) 15 Mar 24 - Although the prices of tin ingot 99.95%min went up today, the European market saw inactive purchases during the past two days as most downstream clients purchased from hand to mouth. The current mainstream prices of European tin ingot 99.95%min stand at USD28,100-28,200/t EXW 100% down, up by USD300/t from yesterday. Given that most downstream clients purchased inactively, insiders predicted that the mainstream prices of European tin ingot 99.95%min would go down in the following days.
"We sold less than half of what we sold last month so far this month to date. Although the prices of tin ingot increased today, the marker saw few deals these two days," a trader in the UK disclosed. They quoted about USD28,150/t EXW 100% down for tin ingot 99.95%min with a concession of USD50/t today but didn't close any deal due to no inquiry. For the same reason, they didn't conclude any deal yesterday when they would like to sell at nearly USD28,500/t with a concession of USD50/t. While they last sold about 2t at USD27,400/t on Monday. Due to dim market, they predicted that the mainstream prices of European tin ingot 99.95%min would move down this week.
Based on a regular monthly sales volume of around 50t, they predict to sell about 30t this month, down by 10t from last month, holing no inventory at present.
A consumer in Romania noted, "We prefer to hold a watchful view to the market as the prices of tin ingot increased sharply today." Their supplier offered about USD281,000/t EXW 100% down for tin ingot 99.95%min today but they didn't replenish stock as the would like to wait and see the market. While they purchased about 1t at USD27,800/t yesterday. As most downstream clients watched on sidelines due to an increase in prices, they believed that the mainstream prices of European tin ingot would go down in the following days.
With a typical monthly consumption of around 30t, they estimate to consume around 25t this month, on par with last month. They hold nearly 3t of stocks currently.
"We sold less than half of what we sold last month so far this month to date. Although the prices of tin ingot increased today, the marker saw few deals these two days," a trader in the UK disclosed. They quoted about USD28,150/t EXW 100% down for tin ingot 99.95%min with a concession of USD50/t today but didn't close any deal due to no inquiry. For the same reason, they didn't conclude any deal yesterday when they would like to sell at nearly USD28,500/t with a concession of USD50/t. While they last sold about 2t at USD27,400/t on Monday. Due to dim market, they predicted that the mainstream prices of European tin ingot 99.95%min would move down this week.
Based on a regular monthly sales volume of around 50t, they predict to sell about 30t this month, down by 10t from last month, holing no inventory at present.
A consumer in Romania noted, "We prefer to hold a watchful view to the market as the prices of tin ingot increased sharply today." Their supplier offered about USD281,000/t EXW 100% down for tin ingot 99.95%min today but they didn't replenish stock as the would like to wait and see the market. While they purchased about 1t at USD27,800/t yesterday. As most downstream clients watched on sidelines due to an increase in prices, they believed that the mainstream prices of European tin ingot would go down in the following days.
With a typical monthly consumption of around 30t, they estimate to consume around 25t this month, on par with last month. They hold nearly 3t of stocks currently.
