SMM Tin Price Forecast (Sept. 13-16)

SHANGHAI, Sept. 13 (SMM) -- Weak domestic consumption “contributed” another slight slip of SMM average tin price during the week ended on September 9th, which came out at RMB 195,750/mt, down RMB 600/mt from previous week. A relatively huge amount of Nanshan branded tin arrived in the spot market during the week, which were purchased by traders and then sold again mostly at RMB 194,500/mt, adding to lower-priced goods in the market. Market transactions remained sluggish during the week. With successive arrivals of imported tin at downstream enterprises, domestic tin consumption will be damped in the near future. Considering stagnating LME tin prices and weak downstream consumption, domestic tin price is not likely to move up in the short term. However, relatively limited market supply will provide enough support to offset downward pressure, thereby causing a deadlock in the short term.