矿端供应兑现逐渐缓和预期 沪锡期货调整压力渐大

Group 1 - The core viewpoint of the news indicates that the tin futures market is experiencing a downward trend, with the main contract dropping significantly by 2.73% to 430,500.00 CNY per ton as of January 27 [1] Group 2 - Alphamin Resources, a tin mining company based in Mauritius, announced that its Bisie mine in the Democratic Republic of Congo is expected to reach a total output of 18,576 tons of tin concentrate by 2025 [2] - As of January 26, the London Metal Exchange (LME) reported tin registered warrants at 6,835 tons, with cancellations of 230 tons, resulting in a total inventory of 7,065 tons, which decreased by 130 tons [2] - The Shanghai Futures Exchange recorded tin warehouse receipts at 8,624 tons on January 26, an increase of 42 tons from the previous trading day; however, there was a cumulative decrease of 697 tons over the past week, representing a decline of 7.48% [2] - Over the past month, the Shanghai tin futures warehouse receipts have increased by 655 tons, reflecting a growth of 8.22% [2] Group 3 - According to Wengang Futures, short-term price movements in the tin futures market are influenced by capital speculation, with expectations of a strong performance in the tin price in the near term [5] - The suggested operational range for domestic main contracts is between 430,000 to 470,000 CNY per ton, while the overseas reference range for LME tin is between 52,000 to 58,000 USD per ton [5] - Guotou Anxin Futures noted that market attention is focused on geopolitical risks and the rising trend of silver, while domestic tin concentrate processing fees have been slightly adjusted upwards, indicating a gradual easing of supply expectations [5]