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.