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Home / Metal News / SMM Daily Review – 2011/8/2 Tin Market

SMM Daily Review – 2011/8/2 Tin Market

Aug 3, 2011 08:44

SHANGHAI, Aug. 3 (SMM) – Falling LME tin prices and weak consumption pressed Shanghai tin prices slightly lower on August 2nd.

SHANGHAI, Aug. 3 (SMM) – Falling LME tin prices and weak consumption pressed Shanghai tin prices slightly lower on August 2nd. Main traded brands were Yunxi, Yunheng and Nanshan, with mainstream traded prices between RMB 203,500-205,000/mt. As tin prices fell, wait-and-see attitude turned stronger among downstream buyers, which dampened the already sluggish market sentiment. Tin supplies remained limited as major smelters were influenced by power as well as environmental restrictions which led to unstable output. Consumption is still weak entering August, and time is needed for the conventional peak season to come. Recent fundamentals are also not good enough for tin prices to rise.

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