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SMM Daily Review - 2011/7/14 Tin Market
Jul 15, 2011 09:20In Shanghai tin spot markets, traders increased their confidence due to rebounding LME tin prices on Thursday
SHANGHAI, Jul. 15 (SMM) – In Shanghai tin spot markets, traders increased their confidence due to rebounding LME tin prices on Thursday. With limited supply of low-priced goods, mainstream traded prices continued to rise. Transactions for tin from Yunnan Tin Group, Yunheng and Yunxiang brands made at RMB 202,300-202,700/mt, and supply of other brands was limited. Generally, transactions remained quiet on Thursday. With production restriction at smelters, cargo-holders are largely unwilling to sell goods waiting for higher prices, supporting spot prices to an extent. SMM expects domestic tin spot prices will move up in the short term should LME tin prices retain the upward momentum.
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