According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China has risen this month (3.1-3.31), with an average market price of 255850 yuan/ton at the beginning of the month and 280962 yuan/ton at the end of the month, a monthly increase of 9.82%.
The stable operation of tin prices in the early stage of March was affected by the rapid rise in tin prices due to the shutdown of overseas mines in the middle stage, and the news of the resumption of production in Myanmar mines in the later stage affected the upward trend of tin prices, which returned to a high and fluctuating trend.
Recently, macro driving factors have shown a positive trend, and the non-ferrous metal sector has generally shown a strong trend. The concerns caused by Myanmar’s resumption of production have eased, and its impact on the market is gradually slowing down. In this context, tin prices have successfully stabilized and shown a good trend of recovery.
On the supply side, the Myanmar government has officially announced the relevant permit application process and is steadily promoting the resumption of production work. Given this positive development, we have incorporated Myanmar’s supply recovery factors into our future supply benchmark forecast. From the current situation, the smelting production plan for March remains stable without significant fluctuations or changes.
On the consumer side, we have not yet observed significant consumption highlights in the short term. In the short term, the consumer market is still constrained by price factors and has not yet been able to fully unleash its potential.
Overall, the macro outlook is relatively positive in the short term, but attention should be paid to the clear guidance of Myanmar’s resumption of production process and the progress of the situation in the Democratic Republic of Congo. Expected high-level range fluctuations, it is recommended to operate with a range oscillation mindset.
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