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SMM Daily Review – 2011/8/19 Tin Market
Aug 22,2011 08:44CST
price review forecast
Source:SMM
Spot tin prices saw a relative large drop on August 19th to RMB 193,500-196,000/mt, due to plunging LME tin prices during previous night.

SHANGHAI, Aug. 22 (SMM) – Spot tin prices saw a relatively huge drop on August 19th to RMB 193,500-196,000/mt, due to plunging LME tin prices during previous night. Mainstreaming trading brands during the day were Yunxi, Yunheng as well as Jiangxi brands. A trading price of RMB 196,500/mt was also reported for small volumes of Yunxi branded tin. The weakening LME tin has not only dampened goods holder confidence, but also that of downstream buyers, and the dropping trend in the already sluggish domestic market may continue due to a lack of market confidence. As LME tin prices are facing downside pressure in the short term, domestic tin prices may also drop further.

tin price

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