Chinese tin ingot prices drop
2024-03-21 08:04:28 [Print]
BEIJING (Asian Metal) 21 Mar 24 - The current mainstream prices of Chinese tin ingot 99.95%min stand at RMB223,000-225,000/t (USD30,975-31,253/t) EXW 100% down, down by RMB5,000/t (USD694/t) from yesterday. As the market saw oversupply and most downstream clients purchased from hand to mouth, insiders believed that the mainstream prices of Chinese tin ingot would go down further in the forthcoming days.
"We offered about RMB224,500/t(USD31,184/t) EXW 100% down for tin ingot 99.95%min and refused any lower price this morning but failed to close any deal due to no firm bid," a trader in Shanghai claimed. While they sold about 5t at RMB229,500/t(USD31,878/t) yesterday. Due to large market inventory, they predict that the mainstream prices of Chinese tin ingot would edge down in the following days.
With a typical monthly trading volume of 80t, the trader plans to sell about 40t this month, up by 10t from last month, holding an inventory of 10t currently.
Another trader in Shanghai noted, "We would like to sell tin ingot 99.95%min at around RMB224,000/t(USD31,114/t) EXW 100% down with no more concession and sold about 10t this morning." They sold about another 10t at nearly RMB229,500/t (USD31,878/t) yesterday when they offered about RMB230,000/t (USD31,948/t). They added that the market saw large inventory and most downstream clients held watchful attitudes to the marker, so they estimated the mainstream prices of Chinese tin ingot would move down as the forthcoming days.
The trader, based on a regular monthly trading volume of 600t, would like to sell about 400t this month, up by 200t from last month. They hold about 30t of stocks now.
"We offered about RMB224,500/t(USD31,184/t) EXW 100% down for tin ingot 99.95%min and refused any lower price this morning but failed to close any deal due to no firm bid," a trader in Shanghai claimed. While they sold about 5t at RMB229,500/t(USD31,878/t) yesterday. Due to large market inventory, they predict that the mainstream prices of Chinese tin ingot would edge down in the following days.
With a typical monthly trading volume of 80t, the trader plans to sell about 40t this month, up by 10t from last month, holding an inventory of 10t currently.
Another trader in Shanghai noted, "We would like to sell tin ingot 99.95%min at around RMB224,000/t(USD31,114/t) EXW 100% down with no more concession and sold about 10t this morning." They sold about another 10t at nearly RMB229,500/t (USD31,878/t) yesterday when they offered about RMB230,000/t (USD31,948/t). They added that the market saw large inventory and most downstream clients held watchful attitudes to the marker, so they estimated the mainstream prices of Chinese tin ingot would move down as the forthcoming days.
The trader, based on a regular monthly trading volume of 600t, would like to sell about 400t this month, up by 200t from last month. They hold about 30t of stocks now.
