SMM Daily Review - 2011/7/18 Tin Market

SHANGHAI, Jul. 19 (SMM) – In Shanghai tin spot markets, market supply increased on Monday, consisted mainly of tin from Yunnan Tin Group and Yunheng, Yunxiang, Yinsheng brands etc., and mainstream traded prices were RMB 202,500-203,000/mt. Smelters in Jiangxi and Guangdong provinces were still unwilling to sell goods, and the resulting low market supply supported prices. But traded prices were not as strong as prices last Friday, with most transactions made below RMB 203,000/mt on Monday. Generally, continuously weak transaction negatively affected prices.

50% of market players expect domestic tin spot prices to keep stable at around RMB 203,000/mt this week. They believe weak upward momentum in the LME tin market cannot boost domestic prices, and coupled with the constantly soft domestic consumption, domestic tin prices should lack of upward momentum for the foreseeable future. 33% of market players predict tin prices to rise this week, due to tight market supply caused by production cuts and low selling interest from smelters. The remaining 16% of market players believe domestic tin prices may fall on the context of soft terminal consumption.

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