SMM Daily Review - 2010/1/11 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2010/1/11 Tin Market

SMM Insight 11:47:22AM Jan 12, 2010 Source:SMM

SHANGHAI, Jan. 12 (SMM) -- On Friday night, although LME tin prices experienced a decline and once fell below USD 17,300/mt, prices closed with rebound at USD 17,34O/mt after decline of US dollar. On Monday, LME tin prices continued to advance above USD 17,700/mt. However, it was still worth noting that RSI weakened significantly, and KDJ indicated unclear price trend. LME tin prices have been kept rising since mid-December of 2009 with steady growth by more than 15%, and possibility for prices facing risks at high levels were increasing gradually.

In the Shanghai tin market, Yunnan Tin Group increased offers to RMB 140,000/mt again on Monday to show its determined optimistic view towards market outlook, but downstream price acceptance was low. Mainstream traded prices were still around RMB 131,000-131,200/mt range. Inquires increased along with steady climb of LME tin prices after 3:00 pm. Offers from cargo-holders also climbed steadily from RMB 134,000/mt. Although there were only few transactions in the market and it still took time for downstream consumers to accept increase prices, increased offers will lay a solid foundation for prices increases on Tuesday.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn
 

SMM Daily Review - 2010/1/11 Tin Market

SMM Insight 11:47:22AM Jan 12, 2010 Source:SMM

SHANGHAI, Jan. 12 (SMM) -- On Friday night, although LME tin prices experienced a decline and once fell below USD 17,300/mt, prices closed with rebound at USD 17,34O/mt after decline of US dollar. On Monday, LME tin prices continued to advance above USD 17,700/mt. However, it was still worth noting that RSI weakened significantly, and KDJ indicated unclear price trend. LME tin prices have been kept rising since mid-December of 2009 with steady growth by more than 15%, and possibility for prices facing risks at high levels were increasing gradually.

In the Shanghai tin market, Yunnan Tin Group increased offers to RMB 140,000/mt again on Monday to show its determined optimistic view towards market outlook, but downstream price acceptance was low. Mainstream traded prices were still around RMB 131,000-131,200/mt range. Inquires increased along with steady climb of LME tin prices after 3:00 pm. Offers from cargo-holders also climbed steadily from RMB 134,000/mt. Although there were only few transactions in the market and it still took time for downstream consumers to accept increase prices, increased offers will lay a solid foundation for prices increases on Tuesday.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn