SMM Daily Review - 2011/9/16 Tin Market

SHANGHAI, Sept. 19 (SMM) – Despite gains in LME tin prices overnight, domestic spot tin reported another losing day on September 16th, due to a generally bearish environment, unstable global financial markets, weak domestic demand as well as active liquidating activities by Jiangxi tin suppliers. Traded prices of spot tin were maintained between RMB 191,500-192,000/mt. Though suppliers had held prices between RMB 195,000-195,500/mt for certain tin brands, no transactions were reached, which only showed their determination to hold prices that were backed by cost. The spot tin market during the day had also showed downstream demand was quite insensitive to LME tin price movements or suppliers’ attitude.