SMM Daily Review - 2011/11/29 Tin Market

SHANGHAI, Nov. 30 (SMM) – The traded volume of spot tin remained limited in Shanghai on November 29th despite of overnight gains in LME tin prices, leading to a lowest traded price of RMB 170,500/mt during the day. Mainstream Yunxi, Jinhai, Yunxiang, Nanshan and Jinlong branded tin was traded between RMB 171,000-173,000/mt. Supply at RMB 170,500/mt was relatively limited. Though most smelters continued to hold goods and quotations, a few smelters made deals at lower prices due to capital pressure. Lower-priced supply therefore remained stable. An impact on sales of domestic tin is also expected from transit tin and domestic tin prices may lose support at the RMB 170,000/mt mark as a result.