SMM Daily Review – 2011/8/23 Tin Market

SHANGHAI, Aug. 24 (SMM) – Transactions in Shanghai tin market were extremely sluggish on August 23rd. As the market is still tortured by tensions overseas, the more than RMB 10,000 price gap over domestic prices also forced domestic market players to keep their nerves tight all the time. Upstream enterprises sold goods with market prices and downstream consumers only provided rare purchases, thereby reducing operation space for traders and forcing them to keep low inventories. Market transactions fell behind those of yesterday. However, tin prices narrowed losses during the day, with Nanshan, Kaiyuan, Yuecheng branded tin trading near RMB 193,000/mt and Yunheng and Yunheng branded tin at RMB 193,500-195,000/mt. Transactions at higher prices were rare. The market is still waiting for directions.