SHANGHAI, Sept. 6 (SMM) – Trading prices of tin in Shanghai were little changed from last Friday. Yunxi, Yunheng, Yunxiang, Nanshan and Lvsexinan etc. branded tin was traded between RMB 195,500-197,000/mt. Mainstream trading price for Yunxi and Yunheng branded tin was RMB 196,800/mt, with transactions at RMB 197,000/mt rarely seen. Transactions remained sluggish in the market as goods holders’ confidence to stick to their quotes was damped by inrush of imported tin.
Latest SMM survey shows 60% of market respondents expect domestic tin prices to continue falling, as upward momentum in LME tin prices was stricken by disappointing US non-farm employment data and inrush of imported tin will further damp the already weak domestic consumption. Remaining 40% of respondents are neutral toward future tin price trends as they believe weak consumption will be offset by support from high raw material cost and tight supply.
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn