Chinese tin concentrate market sees few deals
2024-04-29 08:12:40 [Print]
BEIJING (Asian Metal) 29 Apr 24 - Most downstream clients purchased inactively currently as the terminal market demand kept weak and the prices of raw materials went up sharply. Thus, the market showed sluggish deals during the past two days. The current mainstream prices of Chinese tin concentrate 60%min stand at RMB248,000-250,000/metal ton (USD34,224-34,500/metal ton) delivered D/P in China, in line with last Friday. Insiders predicted that the mainstream prices of Chinese tin concentrate would go up in the forthcoming days due to limited raw materials in spite of few deals.
A trader in Guizhou revealed, "Our sales volume would decrease by 20% MoM as most of our clients purchased inactively during the past two days." They could consider accepting the price as low as RMB250,000/metal ton (USD34,500/metal ton) delivered D/P for tin concentrate 60%min today, unchanged from last Friday. However, they failed to close any deal since last Friday due to no inquiry. While they last sold about 60 metal tons at nearly RMB268,000/metal ton (USD36,984/metal ton) last Wednesday. Although most downstream clients purchase from hand to mouth, they predict that the mainstream prices of Chinese tin concentrate would go up in the following days driven by limited raw materials.
The trader, based on a regular monthly trading volume of 100 metal tons, estimates to sell about 120 metal tons this month, down by 30 metal tons from last month. They hold around 80 metal tons of stocks now.
"Due to the high price of raw materials, our downstream clients had no intention to replenish stock in the past two days, and most of them kept watchful attitudes," another trader in Yunnan revealed. They offered about RMB246,000/metal ton (USD34,500/metal ton) delivered D/P today for tin concentrate 40%min without any concession today but closed no deal due to no inquiry. For the same reason, they didn't close any deal last Friday when they quoted the same price and refused any lower price. While they last sold around 40 metal tons at about RMB264,000/metal ton(USD36,432/metal ton) last Wednesday. However, they added that the import volume of tin concentrate from Myanmar in April reduced to around 400 metal tons, decreased by 90% from last month. Thus, they estimate that the mainstream prices of Chinese tin concentrate would go up in the following days due to tight supply.
With a typical monthly trading volume of 100 metal tons, they predict to sell about 100 metal tons this month, unchanged from last month, holding an inventory of 50 metal tons now.
A trader in Guizhou revealed, "Our sales volume would decrease by 20% MoM as most of our clients purchased inactively during the past two days." They could consider accepting the price as low as RMB250,000/metal ton (USD34,500/metal ton) delivered D/P for tin concentrate 60%min today, unchanged from last Friday. However, they failed to close any deal since last Friday due to no inquiry. While they last sold about 60 metal tons at nearly RMB268,000/metal ton (USD36,984/metal ton) last Wednesday. Although most downstream clients purchase from hand to mouth, they predict that the mainstream prices of Chinese tin concentrate would go up in the following days driven by limited raw materials.
The trader, based on a regular monthly trading volume of 100 metal tons, estimates to sell about 120 metal tons this month, down by 30 metal tons from last month. They hold around 80 metal tons of stocks now.
"Due to the high price of raw materials, our downstream clients had no intention to replenish stock in the past two days, and most of them kept watchful attitudes," another trader in Yunnan revealed. They offered about RMB246,000/metal ton (USD34,500/metal ton) delivered D/P today for tin concentrate 40%min without any concession today but closed no deal due to no inquiry. For the same reason, they didn't close any deal last Friday when they quoted the same price and refused any lower price. While they last sold around 40 metal tons at about RMB264,000/metal ton(USD36,432/metal ton) last Wednesday. However, they added that the import volume of tin concentrate from Myanmar in April reduced to around 400 metal tons, decreased by 90% from last month. Thus, they estimate that the mainstream prices of Chinese tin concentrate would go up in the following days due to tight supply.
With a typical monthly trading volume of 100 metal tons, they predict to sell about 100 metal tons this month, unchanged from last month, holding an inventory of 50 metal tons now.
