Group 1: Investment Rating - No investment rating for the industry is provided in the report [1] Group 2: Core View - The report believes that the 7.9 - magnitude earthquake in Myanmar on March 28, although the epicenter is some distance from the main tin - mining areas, is likely to delay the resumption of production in the tin mines. The tin price volatility may remain high in the short term, and the absolute price is expected to decline slightly as the earthquake has caused an over - increase in the price, and it is expected to give back some of the irrational gains. The overall view is a slight decline [1] Group 3: Summary by Related Catalogs 1. Disk Review - The Shanghai Tin Index opened high and closed low on Monday, finally stabilizing at 282,000 yuan per ton [2] 2. Industrial Performance - The fundamentals of the tin industry remain stable [2] 3. Futures Price - The closing price of the Shanghai Tin futures main contract is 282,350 yuan/ton, with no change; the Shanghai Tin continuous - one contract is 282,350 yuan/ton, with no change; the Shanghai Tin continuous - three contract is 282,290 yuan/ton, with no change; the LME Tin 3M is 35,895 US dollars/ton, up 640 US dollars or 1.82%; the Shanghai - London ratio is 7.8, down 0.11 or 1.39% [3] 4. Spot Price - The price of Shanghai Non - ferrous tin ingots is 282,200 yuan/ton, up 5,200 yuan or 1.88% week - on - week; 1 tin premium is 400 yuan/ton, up 200 yuan or 100% week - on - week; 40% tin concentrate is 269,700 yuan/ton, up 5,200 yuan or 1.97% week - on - week; 60% tin concentrate is 273,700 yuan/ton, up 5,200 yuan or 1.94% week - on - week; 60A solder bar is 182,750 yuan/ton, up 3,000 yuan or 1.67% week - on - week; 63A solder bar is 190,750 yuan/ton, up 3,500 yuan or 1.87% week - on - week; lead - free solder is 288,750 yuan/ton, up 5,000 yuan or 1.76% week - on - week [7] 5. Import Profit and Processing Fee - The tin import profit is - 23,395.74 yuan/ton, down 2,911.56 yuan or 14.21% day - on - day; the 40% tin ore processing fee is 12,700 yuan/ton, with no change; the 60% tin ore processing fee is 10,550 yuan/ton, up 2,000 yuan or 23.39% [11] 6. Inventory - The total warehouse receipt quantity of tin in the Shanghai Futures Exchange is 8,946 tons, up 116 tons or 1.31% day - on - day; the warehouse receipt quantity in Guangdong is 4,435 tons, up 81 tons or 1.86% day - on - day; the warehouse receipt quantity in Shanghai is 3,346 tons, up 35 tons or 1.06% day - on - day; the total LME tin inventory is 3,050 tons, down 55 tons or 1.77% [15]
南华锡日报-2025-04-01
Nan Hua Qi Huo·2025-04-01 05:38