SMM Daily Review – 2011/8/16 Tin Market

SHANGHAI, Aug. 17 (SMM) – Spot tin prices in Shanghai failed to rise further after climbing to RMB 198,000/mt on August 16th. Though quotes at RMB 199,000/mt were heard in the morning, transactions were rarely reported. In the afternoon, spot tin prices began to dip due to sluggish transactions. Some tin supplies from Jiangxi were seen in the market, but with relatively high trading prices. Yunxi, Yunheng, Nanshan and Kaiyuan branded tin was mainly traded between RMB 196,500-198,000/mt, overall market transactions remained sluggish as downstream buyers purchased on an as-needed basis and factory orders remain unimproved due to seasonal low-demand. Spot supplies remained tight, which provided certain support for tin prices.