SHANGHAI, Jun. 28 (SMM) –In Shanghai tin spot markets, prices continued to fall on Monday. Despite signs of stabilizing LME tin prices, domestic prices still kept falling due to continuously weak consumption, only with a slower pace. Transactions for Yunxiang and Nanshan branded tin were made at RMB 190,500-190,700/mt, and some tin from Yunnan Tin Group traded between RMB 191,000-193,000/mt, with mainstream prices approaching RMB 190,000/mt. Transactions remained muted on Monday.
76% of market players believe tin prices will continue to fall this week, due to unstable LME tin prices still struggling at USD 25,000/mt, and due to a stronger US dollar index. What’s more, LME tin prices likely drop further over the near term, which should weigh down on base metals. 20% of market players predict domestic prices to kept fluctuating at current levels in the short term, with support above RMB 190,000/mt.
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