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Non-ferrous metal production capacity was further disturbed. Tin futures price rose 10.36% in 4 days.

Non-ferrous metal production capacity was further disturbed. Tin futures price rose 10.36% in 4 days.

  • Categories:Industry News
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  • Time of issue:2019-09-07
  • Views:9

Non-ferrous metal production capacity was further disturbed. Tin futures price rose 10.36% in 4 days.

(Summary description)Recently, following the nickel, another non-ferrous metal, tin, has been affected by the expected price reduction.

Yesterday, the main contract price of Shanghai-Silver futures jumped in the intraday, closing price reached 142,890 yuan / ton, the day rose 3.23%. At the same time, the tin concept stocks tin industry shares ushered in a straight line yesterday afternoon, once rose to 9.07%, closing finally rose 4.77%. However, industry insiders expect that tin prices are expected to remain strong in the short term, but the upside may be limited.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2019-09-07
  • Views:9
Information

Recently, following the nickel, another non-ferrous metal, tin, has been affected by the expected price reduction.

Yesterday, the main contract price of Shanghai-Silver futures jumped in the intraday, closing price reached 142,890 yuan / ton, the day rose 3.23%. At the same time, the tin concept stocks tin industry shares ushered in a straight line yesterday afternoon, once rose to 9.07%, closing finally rose 4.77%. However, industry insiders expect that tin prices are expected to remain strong in the short term, but the upside may be limited.

According to industry insiders, tin plays an important role in electronics, food, machinery, electrical appliances, automotive, aerospace and other industries, while tin-based alloys are mainly used in the manufacturing industries of batteries, conductive parts and bearings.

Judging from the cumulative increase this week, the Shanghai-Silver futures rebounded sharply. In just four trading days since September, the tin price has risen 10.36%. Earlier, Huxi had gradually dropped from the peak of 153,490 yuan / ton at the beginning of this year and fell below the 150,000 mark. At the beginning of July, there was a sharp drop in the Shanghai-Shenzhen price, which fell below the 130,000 mark in two days, and has been at a low level for the next two months.

The recent strong rebound is related to the expectation of production cuts. On September 3, the International Tin Association held the Asian Tin Week in 2019 in Xi'an. According to the China Securities Journal, after the meeting fully communicated, all participating companies in China agreed that China's tin smelting enterprises will jointly reduce production by 20,200 tons to effectively maintain the healthy development of the tin industry. Subsequently, as the world's leading supplier of refined tin, Indonesia Tianma also said that it will reduce production by more than 10,000 tons. According to the consensus on production reduction reached at the meeting, the follow-up global supply of refined tin will reduce production by more than 30,200 tons, accounting for about 10% of the global annual output.

On the afternoon of September 5th, Tin Industry Co., Ltd. issued a “Closic Information Disclosure Notice on Responding to the Joint Reduction of Production by Chinese Tin Industry Enterprises”. The announcement shows that in order to respond positively to the joint reduction of production by Chinese tin industry enterprises, the company should respond to the industry situation of tight supply of raw materials in the tin industry and achieve sustainable and healthy development of the tin industry in China. It is estimated that the company's refined tin production in 2019 will be reduced by about 10% compared with the annual production plan.

After the announcement of the above-mentioned production reduction, the share price of Tin Industry shares ushered in a straight line yesterday afternoon, with the largest increase of 9.07%. After the shock, the price closed at 11.43 yuan, and the day's increase was 4.77%. The turnover of Tin Industry shares also increased sharply on the day, reaching 670 million yuan.

According to the semi-annual report issued by Tin Industry, Tin Industry is mainly engaged in the mining and beneficiation of tin, copper and zinc ore and the smelting of tin, copper and zinc metal and the deep processing of tin. It is the largest tin production and processing base in China. Since 2005, the company's tin metal production and sales have consistently ranked first in the industry. In 2018, the company's tin metal domestic market share of 44%, the global market share of 20.04%.

Other tin companies are also expected to reduce production. At the Asian Tin Industry Summit, Li Quan, deputy general manager of Guangxi Huaxi Group, revealed that it may cut production by more than 30% this year. He said that in terms of the overall production plan, the actual production may be reduced by more than 30% compared with the planned production. The price of the market in the previous stage is falling and the demand is sluggish, which has a relatively large impact on production.

According to industry insiders, from the perspective of the supply side, there may be new mines put into production, but it will take some time to achieve. Overall, the output of tin mines has been greatly reduced. Myanmar has not been able to enter a lot of raw materials because of the war. At the same time, trade frictions have caused insufficient consumption, demand-side stocks are small, and demand is not strong. Overall, tin prices will pick up in the long run.

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