SMM Daily Review - 2011/9/23 Tin Market

SHANGHAI, Sept. 26 (SMM) – The panic selling of LME tin on September 22nd spread into domestic tin market on September 23rd. After dropping below the RMB 190,000/mt mark on September 22nd, domestic tin price further plunged to near RMB 180,000/mt during the following day. Mainstream traded prices for Yunheng, Yunshan and Nanshan etc. branded tin were between RMB 175,000-181,000/mt, with only small volumes of Yunxi branded tin being traded at RMB 189,000/mt. Market transactions during the day were sparse despite of plunging prices. As LME tin price plunged and showed a dropping trend, the wait-and-see sentiment became stronger among purchasers, and purchases were made only on an as-needed basis.