SHANGHAI, Aug. 2 (SMM) – Spot tin prices slightly fell on August 1st as a result of falling LME tin prices and weak consumption. Yunxi, Yunheng, Yinsheng, Nanshan and Jinlong branded tin was traded between RMB 204,500-206,200/mt. Branded tin from Jiangxi with lower prices had eroded markets of Yunnan tin brands, thereby dragging down overall tin prices. Main smelters in Yunnan had kept their quotes firm with limited supply. Though supply of branded tin from Jiangxi increased, overall tin supply remained tight, which will provide certain support for tin prices.
A recent SMM survey shows 47% of market players are neutral towards future tin prices as weak consumption will be offset by tight supply. 33% of market players are pessimistic towards future tin prices, believing falling tin prices will attract more second and third tiers suppliers to enter the market, therefore overall tin prices will fall due to increased supplies at lower prices. 20% of market players are optimistic towards tin prices, expecting improvement of macro economic environment after the US debt issue is resolved will help tin prices rebound.
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