SHANGHAI, Jul. 26th (SMM) – After supply from producers turned tight last weekend, tin price quotes rose continuously on July 25th. As purchasing confidence among downstream buyers turned weak, middlemen became cautious towards purchases. Due to low inventories in Shanghai tin markets, only Nanshan, Guangsheng, Yunxi and Yunheng branded tin were traded during the day, with traded prices standing steady between RMB 205,000-206,000/mt. Market transactions were moderate in the morning, but turned sluggish in the afternoon. A recent SMM survey shows that 70% of market players are optimistic towards tin prices in the future supported by tight supply. 23% of market players are neutral towards tin prices, believing that tin prices will stabilize after reaching RMB 205,000/mt due to mixed fundamentals. The remaining 7% of market players were pessimistic towards tin prices, believing tin prices will fall after continuously creating new highs due to growing strong selling interest for capital which may lead to lower prices.
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