On October 31st, the average market price in East China was 253,637 RMB/ton, a decrease of 0.63% compared to the previous trading day. The mainstream price range for 1 # tin ingots in the domestic spot tin market was 253,000-254,500 RMB/ton, with an average price of 253,750 RMB/ton, a decrease of 1,750 RMB/ton from the previous trading day.

Analysis review

The Shanghai futures and tin futures were consolidated in the early trading range, and the basis difference between the near and far months showed a slight expansion on October 31st; The market turned red during the second trading session. At the close of the day, the Shanghai Wuxi 2410 main contract closed up 0.19%.

Some refineries adjusted prices and shipped goods, but the transactions were average. From the current market perspective, prices had not further decreased, and there was a strong demand to replenish goods at low prices. The overall demand growth was limited, and the order volume was slowly increasing.

Market outlook

In terms of trading on October 21st, I heard that small brands had a discount of around 500 to 100 RMB/ton for November, while Yun Tin had a discount of around 100 to 200 RMB/ton for November, and Yun Tin had a discount of around 200 to 700 RMB/ton for November.