SHANGHAI, Aug. 10 (SMM) – Spot tin price continued its falling trend in Shanghai on August 9th. Mainstream trading prices fell to RMB 190,000-192,000/mt as a result of panic selloff caused by continuously plunging LME tin prices. Mainstream trading brands were Yunxi and Nanshan. Market transactions in the morning were extremely sluggish with a lowest RMB 189,500/mt trading price of Nanshan branded tin reported. In the afternoon, spot tin prices slightly rebounded following a rebound of tin prices in London, and market transactions also slightly improved. Most smelters took a wait-and-see attitude and transactions were rarely reported. Meanwhile, with LME tin prices down by over 20%, domestic tin prices have seen a relatively slow falling pace, creating import margins. It is reported that Indonesian and Malaysian tin futures were quoted between RMB 184,000-185,000 in Shanghai tin market, with a delivery term of 20-30 days. However, market transactions were not heard.
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