SHANGHAI, Jan. 14 (SMM) -- On Tuesday night, LME tin prices set a new high at USD 18,350/mt before declining down significantly. Prices closed with decline at USD 17,690, but were still above 5-day moving average. On Wednesday, LME tin prices fluctuated around USD 17,500/mt and will be on downward track.
In the Shanghai tin market, cargo-holders were still reluctant to move goods, and traders still kept offers firm at RMB 140,000/mt. Supply of goods was limited in the market, and transactions were also few with traded price at RMB 138,000/mt. Whether tin prices would climb or not shall depend on the direction from LME tin prices, as well as price acceptance from downstream consumers.
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