Chinese tin concentrate suppliers hold back from selling
2024-03-29 08:24:52 [Print]
BEIJING (Asian Metal) 29 Mar 24 - Due to tight market supply, most tin concentrate suppliers held back from selling during the past week. The current mainstream prices of Chinese tin concentrate 60%min stand at RMB211,000-213,000/metal ton (USD29,195-29,472/metal ton) delivered D/P, unchanged from yesterday. Driven by active inquires and limited spot goods, most suppliers of tin concentrate hold positive views to the market. Thus, insiders predict that the mainstream prices of Chinese tin concentrate would go up in the following days.
"We had no intention to sell during the past week despite that we could receive some inquires as the market saw tight supply," a trader in Guangxi disclosed. A client would like to buy about 10 metal tons tin concentrate 60%min at around RMB211,000/metal ton (USD29,195/metal to) delivered D/P today but they refused. They turned down inquiry at same price from the client who would like to replenish about 10 metal tons yesterday. While they last sold around 5 metal tons at nearly RMB218,000/metal tons (USD30,163/metal ton) on March 18th. They estimate that the mainstream prices of Chinese tin concentrate would go up in the following days.
With a regular monthly trading volume of 30 metal tons, they sold about 30 metal tons this month, unchanged from last month, holding an inventory of 20 metal tons now.
Another trader in Guangdong disclosed, "As we had difficult in replenishing stocks due to shortage of supply, we didn't closed any deal this week." Their client would like to buy 10 metal tons tin concentrate 40%min at around RMB207,000/metal ton (USD28,641/metal to) delivered D/P these two days but they refused both inquires. While they last sold about 5 metal tons at about RMB216,000/metal tons (USD29,886/metal ton) on March 19th. They added that as African sources kept tight supply and domestic market supply decreased gradually, they had to try to find tin concentrate from other minerals. Thus, they predict that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days.
Based on a typical monthly trading volume of 30 metal tons, they sold about 20 metal tons this month, on par with last month, holding an inventory of 20 metal tons at present.
"We had no intention to sell during the past week despite that we could receive some inquires as the market saw tight supply," a trader in Guangxi disclosed. A client would like to buy about 10 metal tons tin concentrate 60%min at around RMB211,000/metal ton (USD29,195/metal to) delivered D/P today but they refused. They turned down inquiry at same price from the client who would like to replenish about 10 metal tons yesterday. While they last sold around 5 metal tons at nearly RMB218,000/metal tons (USD30,163/metal ton) on March 18th. They estimate that the mainstream prices of Chinese tin concentrate would go up in the following days.
With a regular monthly trading volume of 30 metal tons, they sold about 30 metal tons this month, unchanged from last month, holding an inventory of 20 metal tons now.
Another trader in Guangdong disclosed, "As we had difficult in replenishing stocks due to shortage of supply, we didn't closed any deal this week." Their client would like to buy 10 metal tons tin concentrate 40%min at around RMB207,000/metal ton (USD28,641/metal to) delivered D/P these two days but they refused both inquires. While they last sold about 5 metal tons at about RMB216,000/metal tons (USD29,886/metal ton) on March 19th. They added that as African sources kept tight supply and domestic market supply decreased gradually, they had to try to find tin concentrate from other minerals. Thus, they predict that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days.
Based on a typical monthly trading volume of 30 metal tons, they sold about 20 metal tons this month, on par with last month, holding an inventory of 20 metal tons at present.
