According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China rose this week (2.1-2.14), with an average market price of 247210 yuan/ton at the beginning of the week and 261450 yuan/ton at the end of the week, with a weekly increase of 5.76%.

The current industrial demand remains stable, coupled with the upcoming Chinese People’s Congress and the Chinese People’s Political Consultative Conference, the expectation of favorable policies has boosted market confidence, and the A-share market has ushered in a red envelope market, with overall macro sentiment trending towards optimism. In this context, the processing fee for tin concentrate remains low and stable, and the supply of ore is still tight, especially in the Wa region where tin ore has not yet resumed production, further exacerbating the tight supply situation. As a result, tin prices successfully broke through the previous volatile range and climbed to a high of 260000 yuan.

Fundamentally, as one of the world’s important tin ore suppliers, Myanmar’s tin ore supply expectations have a significant impact on the global tin price trend. Especially in the Wa State region of Myanmar, as the main production area of tin ore in Myanmar, the uncertainty of its resumption time has always been a focus of market attention. As of now, the Wa State of Myanmar has not provided a clear plan for the specific resumption time, which has led to further delays in market expectations for the resumption of production in the Wa State of Myanmar. Due to the high proportion of tin ore imported from Wa State in China, the delay in resuming production has further exacerbated market concerns about the tight supply of tin ore.

On the supply and demand side, with the end of the Spring Festival holiday, most downstream enterprises resume work and production one after another on the ninth day of the first lunar month. However, due to the high level of tin prices after the holiday, the actual downstream market’s ability to absorb them is not strong. Faced with high tin prices, most soldering companies have adopted a cautious strategy, mainly consuming pre holiday inventory and adopting a wait-and-see attitude. The overall market consumption performance is weak, and downstream enterprises are cautious about new procurement plans, waiting for further clarification of the market situation.

In summary, given the uncertain resumption time of tin mining in Wa State and the existence of certain expected differences in the market, it is expected that tin prices will maintain a strong trend in the short term.