SMM Daily Review - 2011/11/2 Tin Market

SHANGHAI, Nov. 3 (SMM) – Shanghai spot tin prices slipped a little bit on November 2nd following overnight losses of LME tin. Mainstream Yunheng and Yunxiang branded tin was traded between RMB 180,500-181,000/mt. Small volumes of Yunxi branded tin were traded between RMB 181,500-182,000/mt. Downstream demand remained weak. Market confidence was quite fragile as investors’ nerves were still stretched tight by the Greek as well as the Euro zone crises. LME tin therefore is expected to continue fluctuating in the short term, and possibly drop slightly. China spot tin prices are also expected to be on the downward track, but will find some support at RMB 180,000/mt.