SHANGHAI. Jan. 18 -- Last Friday, LME tin prices reached highest level at USD 18,507/mt and touched the lowest level at USD 17,750/mt. Prices closed at USD 18,375/mt, and grew by USD 475/mt. Last Friday, LME tin prices lingered around USD 18,200/mt which were depressed by rebound of US dollar.
In the Shanghai tin market, tin prices continued to climb robustly, with traded prices in the RMB 142,500-144,000/mt range on January 15th. However, trading sentiment was sluggish as tin prices rose too quickly in recent days, and downstream consumers mainly adopted a wait-and-see attitude. Domestic smelters were reluctant to move goods, taking the excuses of overhauling and the difficulty in purchasing raw materials. Traders had difficulty in replenishing stocks, and market supply was tight. In general, supply and demand were both sluggish in the market.
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