In November 2022, the domestic 1 # tin ingot market rose in shock. The average price of the domestic market was 165060 yuan/ton at the beginning of the month and 184790 yuan/ton at the end of the month, with a monthly increase of 11.95%.

On November 29, the tin commodity index was 94.62, up 2.19 points from yesterday, down 49.59% from the cycle’s highest point of 187.70 (2022-03-09), and up 120.77% from the lowest point of 42.86 on December 9, 2015. (Note: the cycle refers to 2011-09-01 to now).

The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the monthly K-bar chart that the tin price has mainly declined in the past six months, with a large decline of -18.54% in May and -22.32% in June. From the weekly K-bar chart, we can see that the lead price has fallen more or less recently, and the overall decline.

In terms of inventory, Lunxi’s inventory fell again, reaching a new low point in nearly five months, which again boosted the market mentality. The inventory of Shanghai Tin continued to rise slightly. After three consecutive weeks of recovery, the latest inventory level has reached a new high in nearly five months.

Tin prices rose in November due to volatility, which was mainly boosted by macro factors. The low inventory level of Lunxi is also an important factor to boost market prices. In terms of fundamentals, the changes in tin market fundamentals are limited, still showing loose supply and weak demand. After entering the third quarter, domestic smelters generally started higher, tin supply was relatively loose, and domestic inventory was accumulated as a whole. In terms of downstream demand, the downstream application of tin is mainly tin solder, which is mainly used in electronic industry and automobile industry. Under the current economic background, the consumption of electronic products has always been tepid, which has also changed the supply of tin from tight to loose. In addition, the expectation that the electronic industry will warm up in the short term is low, and the poor demand expectation will drag down the tin market. The business agency expects that the tin price in the future will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a wide range of shocks.