Chinese tin concentrate suppliers hold negative attitudes to the market
2024-04-24 08:28:18 [Print]
BEIJING (Asian Metal) 24 Apr 24 - Most suppliers of tin concentrate held bearish views to the market as the downstream clients purchased from hand to mouth. The current mainstream prices of Chinese tin concentrate 60%min stand at RMB252,000-254,000/metal ton (USD34,783-35,059/metal ton) delivered D/P in China, down by RMB16,000/metal ton (USD2,208/metal ton) from yesterday. As most smelters hold watchful attitudes to the market, insiders predict that the mainstream prices of Chinese tin concentrate would go down in the forthcoming days.
A trader in Yunnan reported, "Most of our clients purchased from hand to mouth dragged by dim terminal market. As a consequence, we hold negative view to the market. We could consider accepting a concession of RMB1,000 /metal ton (USD138/metal ton) in the deals of these two days for promotion, which was not acceptable in the previous sales." They could consider accepting the prices as low as RMB250,000/metal ton (USD28,339/metal ton) delivered D/P for tin concentrate 40%min and sold around 30 metal tons today. They sold about another 30 metal tons at nearly RMB266,000/metal ton (USD36,715/metal ton) yesterday. They would try to sell out all their stock within this week and predict that the mainstream prices of Chinese tin concentrate would go down in the following days.
The trader, based on a regular monthly trading volume of 300 metal tons, predicts to sell about 200 metal tons this month, on par with last month, holding an inventory of 100 metal tons now.
"As most of our clients have no intention to replenish stock during the past two days, we close no deal these two days. Therefore, we hold bearish attitude to the market," another trader in Jiangxi added. They offered about RMB253,000/metal ton (USD34,920/metal ton) delivered D/P without any concession for tin concentrate 60%min today but didn't close any deal due to no inquiry. For the same reason, they didn't conclude any deal yesterday when they quoted about RMB269,000/metal ton (USD37,129/metal ton) and refused any lower price yesterday. While the last sold about 10 metal tons at RMB254,000/metal ton (USD35,059/metal ton) last Friday. Dragged by dim terminal market, most smelters have no willingness to replenish stock. So, they forecast that the mainstream prices of Chinese tin concentrate would move down in the forthcoming days.
With a typical monthly trading volume of 200 metal tons, they estimate to sell about 100 metal tons this month, unchanged from last month. They hold around 30 metal tons of stocks at present.
A trader in Yunnan reported, "Most of our clients purchased from hand to mouth dragged by dim terminal market. As a consequence, we hold negative view to the market. We could consider accepting a concession of RMB1,000 /metal ton (USD138/metal ton) in the deals of these two days for promotion, which was not acceptable in the previous sales." They could consider accepting the prices as low as RMB250,000/metal ton (USD28,339/metal ton) delivered D/P for tin concentrate 40%min and sold around 30 metal tons today. They sold about another 30 metal tons at nearly RMB266,000/metal ton (USD36,715/metal ton) yesterday. They would try to sell out all their stock within this week and predict that the mainstream prices of Chinese tin concentrate would go down in the following days.
The trader, based on a regular monthly trading volume of 300 metal tons, predicts to sell about 200 metal tons this month, on par with last month, holding an inventory of 100 metal tons now.
"As most of our clients have no intention to replenish stock during the past two days, we close no deal these two days. Therefore, we hold bearish attitude to the market," another trader in Jiangxi added. They offered about RMB253,000/metal ton (USD34,920/metal ton) delivered D/P without any concession for tin concentrate 60%min today but didn't close any deal due to no inquiry. For the same reason, they didn't conclude any deal yesterday when they quoted about RMB269,000/metal ton (USD37,129/metal ton) and refused any lower price yesterday. While the last sold about 10 metal tons at RMB254,000/metal ton (USD35,059/metal ton) last Friday. Dragged by dim terminal market, most smelters have no willingness to replenish stock. So, they forecast that the mainstream prices of Chinese tin concentrate would move down in the forthcoming days.
With a typical monthly trading volume of 200 metal tons, they estimate to sell about 100 metal tons this month, unchanged from last month. They hold around 30 metal tons of stocks at present.
