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SMM Daily Review – 2011/8/3 Tin Market
Aug 4, 2011 08:45SHANGHAI, Aug. 4 (SMM) – In Shanghai tin markets, as plunging LME tin prices dampened market confidence,
SHANGHAI, Aug. 4 (SMM) – In Shanghai tin markets, as plunging LME tin prices dampened market confidence, selling at low prices among a small number suppliers were reported, and traders were forced to lower their quotes as a result. Mainstream traded brands were Yunxi, Yunheng and Nanshan, with traded prices between RMB 202,500-204,500/mt. Overall goods movements were limited due to lower market confidence. Some market players believe market sentiment will not be significantly affected by price movements, as weak consumption is the main cause for low market confidence. During current low-demand season, tin demand is even less due to power restrictions and tight capital supply, and peak-season of this year is expected to come later than previous years.
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