SMM Daily Review - 2010/1/18 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2010/1/18 Tin Market

SMM Insight 10:40:36AM Jan 19, 2010 Source:SMM

SHANGHAI. Jan. 19 -- Last Friday, LME tin prices closed with decline at USD 18,050/mt and low-end prices once fell below USD 17,900/mt. On Monday, LME tin prices still stood firmly above 5-day moving average despite rebound of US dollar, and moved narrowly in the USD 18,050-18,200/mt range. Upward Momentum for LME tin prices was weak.

In the Shanghai tin market, tin prices showed signs of decline on Monday by virtue of few transactions from downstream purchasers. In the morning, traded prices were mainly in the RMB 143,000-144,000/mt range, and offers from some traders declined to RMB 139,500-142,000/mt range in the afternoon, with relatively weak trading sentiment in general. Supply of goods was tight in the market, but downstream purchasers showed little interest of high priced supply. Prices of spot goods face difficulty in moving up, and may decline in the future.

 

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

 

Key Words:  Tin price  tin Sn 

SMM Daily Review - 2010/1/18 Tin Market

SMM Insight 10:40:36AM Jan 19, 2010 Source:SMM

SHANGHAI. Jan. 19 -- Last Friday, LME tin prices closed with decline at USD 18,050/mt and low-end prices once fell below USD 17,900/mt. On Monday, LME tin prices still stood firmly above 5-day moving average despite rebound of US dollar, and moved narrowly in the USD 18,050-18,200/mt range. Upward Momentum for LME tin prices was weak.

In the Shanghai tin market, tin prices showed signs of decline on Monday by virtue of few transactions from downstream purchasers. In the morning, traded prices were mainly in the RMB 143,000-144,000/mt range, and offers from some traders declined to RMB 139,500-142,000/mt range in the afternoon, with relatively weak trading sentiment in general. Supply of goods was tight in the market, but downstream purchasers showed little interest of high priced supply. Prices of spot goods face difficulty in moving up, and may decline in the future.

 

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

 

Key Words:  Tin price  tin Sn