SHANGHAI, Sept. 14 (SMM) – Spot tin price saw a slight dip in Shanghai on September 13th. Quotations in the morning were relatively high, but were dragged down in the afternoon by lower priced tin supply from Jiangxi to the lowest RMB 192,500/mt during the day. After the lower priced tin were gradually consumed, spot tin prices slightly stabilized, with mainstream traded prices maintained at RMB 193,000-196,500/mt. Mainstream trading brands during the day were Yunxi, Yunheng, Nanshan, Kaiyuan and Jinlong. Market transactions were relatively sparse as consumption downstream remained weak.
A recent SMM survey shows 80% of market respondents expect a slight dip of domestic tin price this week. Their conclusion was made on lower market confidence due to LME tin price’s long-time fluctuation without any breakthrough at USD 24,000/mt, remaining weak downstream consumption, impact of imported tin as well as increasing lower priced domestic supplies. The other 20% of respondents believe domestic tin price will maintain fluctuation within a narrow range supported by limited supply and high raw materials cost.