SMM Daily Review - 2011/9/22 Tin Market

SHANGHAI, Sept. 23 (SMM) – Spot tin price in Shanghai further dropped on September 22nd as selling-off continued throughout the day due to plunging LME tin price. This was seen even among smelters who had been holding goods previously. Mainstream tin brands in the market included Yunxi, Yunheng and Nanshan, with traded prices of RMB 186,000-191,500/mt. Market transactions remained sparse as continuously plunging LME tin price led to stronger panic at downstream and as market consumption remained weak. Further more, the falling LME tin price led to higher import interest among some domestic buyers, therefore tin import is expected to continue, which can meet production needs but will weigh on domestic sales. Spot tin price therefore still has some downward space.