On August 23, the mainstream quotation range of 1 # tin ingot in the domestic spot tin market was 201000-202500 yuan / ton, with an average price of 201750 yuan / ton, down 2500 yuan / ton from the previous trading day.

The market mentality was boosted by the news of China’s interest rate cut. Most of the metal markets rose last night, but Shanghai tin fell 0.69%. In the morning, Shanghai tin continued its downward trend at night. As of the end of the 23rd, the Shanghai tin 2209 contract closed down 0.83% to close at 200250 yuan / ton.

Basically, the tin market is still in a weak pattern of supply and demand. Recently, the domestic market as a whole is still dominated by destocking. There is a certain replenishment behavior in the lower reaches, but the overall downstream consumption has not improved significantly. And there is no expectation of improvement in future demand. Generally speaking, the market expects tin production to rise in August, and the main production areas such as Yunnan and Jiangxi will gradually resume production, and the supply is expected to increase. The downstream demand is weak, and the tin price is difficult to be supported. It is expected that the rising power of the tin price is insufficient, and it is expected that the tin price will be under pressure in the future.