1. Non-ferrous prices rose and fell overnight, and tin prices fluctuated within a narrow range overnight after falling sharply in the day. Shanghai Tin 220 1 contract closed at 279,090 yuan/ton, down 1.22%. On Monday, the Shanghai 1# tin mainstream turnover was 294,500-296,000 yuan/ton, with an average price of 295,250 yuan/ton, which was the same as the previous trading day.
2. Important information
According to SMM survey, as of February 3rd, the social stock of tin ingots in Shanghai and Suzhou totaled 2,652 tons, 339 tons less than the previous week.
According to SMM survey, the operating rate of Zhoudu Tin Ingot Smelter was 58.89% from October 27th to February 3rd,/kloc-0, up 5.39% from the previous month.
3. Trading strategy
The central bank announced that the deposit reserve ratio of financial institutions would be lowered on June 5438+February 65438+May 5, releasing long-term funds of about 1.2 trillion, which boosted nonferrous metals. However, due to the new mutant virus and the Fed's consideration of increasing the scale of bond purchases, the market risk appetite is still not high.
4. From the overall performance of non-ferrous metals, the price of copper and aluminum has dropped significantly in the past two months, but the price of tin has continued to run at a high level, and the risk of callback has increased. In terms of tin city, the blockade in some parts of Myanmar ended and the export of transportation materials gradually recovered. After the overhaul of Guangxi Smelter, the operating rate of Zhoudu increased obviously.
5. The smelters that stopped production due to environmental protection in Gejiu City have basically recovered, but there are still smelters in Yunnan that have been overhauled at the end of the year, and the overall operating rate in Yunnan has declined slightly, and the operating rate of tin ingots in the world has rebounded. On the demand side, high tin prices and high water prices have obviously inhibited downstream consumption, and the spot market transactions are light.
6. The absolute value of inventory at home and abroad is still at a low level, but the overall level has increased. At present, the supply and demand are intertwined, the price of tin is at a high level, and market differences appear. It is recommended to wait and see for the time being and wait for the buying opportunity after the deep decline.
7. In the long run, there are few new projects in tin mines, and the grade of mines in production is declining, while the consumption of new energy vehicles and photovoltaic sectors is strong and the demand is strong. The tin market presents a situation of weak supply and strong demand, and the tin price is expected to maintain a strong operating state.
1. Shanghai Tin:
Tin is widely used in electronics, food, automobile, medicine, textile, architecture, handicrafts and other industries because of its low melting point, good ductility, easy to form alloys with various metals, non-toxic, corrosion-resistant and beautiful appearance. Tin is mainly used in solder, tinplate, tin chemical industry, float glass and other fields. First, it is used as solder in electronic industry, which plays the role of mechanical connection, electrical connection and heat exchange. Second, it is used to make tinplates, such as tinplates as food and beverage packaging materials.