SHANGHAI, Aug. 15 (SMM) – Spot tin prices climbed on August 12th as a result of higher quotes by traders supported by limited supply. Tin price gradually stabilized during the week from August 8th to August 12th following more than one week’s falling, but its upward pace was slow. Therefore, most smelters were holding goods for risk aversion, and market supplies of spot tin declined during the week, especially on August 12th. Apart from a few traders who had small volumes of Yunxi branded tin and other branded tin from Guangdong, most traders’ goods were to be delivered by SHFE tin market, therefore spot tin prices rose steadily with mainstreaming trading prices climbing to RMB 193,000-195,000/mt. Quickly rising prices and tight supplies, however, led to slightly sluggish transactions, and the wait-and-see sentiment again appeared among downstream buyers.
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