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SMM Tin Price Forecast (Oct. 17-21)
Oct 17,2011 11:45CST
smm insight
Source:SMM
Domestic tin prices climbed to RMB 186,000-187,000/mt earlier during the week from October 10th to 14th with climbing LME tin prices, but dropped later to near RMB 183,000-184,000/mt.

SHANGHAI, Oct. 17 (SMM) – Domestic tin prices climbed to RMB 186,000-187,000/mt earlier during the week from October 10th to 14th with climbing LME tin prices, but dropped later to near RMB 183,000-184,000/mt after LME tin prices slipped. Main reasons for the drop in domestic tin prices, however, are weak domestic demand and impact from imported tin. As tin prices slipped, the wait-and-see sentiment turned even stronger among downstream buyers, with inquiries rarely seen. Meanwhile, spot tin prices were also facing downside pressures after imported tin led to a boost in market supply. Most tin smelters remained unwilling to sell their goods, and supply of domestic tin ingots turned slightly tight as a result. As for the present tin market, with weak domestic demand and weaker support from LME, domestic tin prices will meet huge pressure if smelters choose to lower their stocks.

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