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Home / Metal News / Tin Price Forecast

Tin Price Forecast

iconDec 14, 2009 14:55
Source:SMM

SHANGHAI, Dec. 14 (SMM) -- LME tin prices fluctuated widely last week affected by rising US dollar index, reaching the highest level at USD 15,520/mt and touching the lowest level at USD 14,800/mt, but for most of the time, prices were fluctuating in the USD 15,100-15,300/mt range. LME inventories continuously mounted to 26.4 kt.

In the Shanghai tin market, tin prices were unaffected by wide fluctuation of LME tin prices, and offers of major brands were still at high levels in the RMB 116,000-117,000/mt range due to tight supply of raw materials and low profits. Offers of unknown brands were also approaching RMB 116,000/mt by virtue of low inventories pressure and reluctance to move goods by producers.

In this context, supply became tight in the market, and trading sentiment was quiet. With goods in the market gradually been consumed, low-end prices mounted in the RMB 116,500-117,000/mt range, and offers of RMB 117,500/mt were also heard in the market. Next week, tin prices may be accepted by downstream at RMB 117,000/mt, and are expected to rise slightly.
 
 
 
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