SHANGHAI, Dec. 6 (SMM) – Shanghai spot tin prices continued to slip on December 5th as a few smelters also moved goods at lower prices. Yunxiang branded tin dominated the day’s trading, comparing with limited supply of Yunxi, Yunheng, Nanshan and Kaiyuan branded tin. Mainstream traded prices during the day were RMB 163,000-166,000/mt. The highest traded price of Yunxi branded tin was RMB 16,700/mt. Despite of a plunge of RMB 2,000/mt, the traded volume remained limited as downstream buyers continued to purchase on an as-needed basis. As for the present, domestic tin prices seem still on the downward track.
In an SMM survey on future price trends, almost all respondents were bearish towards this week’s tin prices. They divided by half as for whether the metal will drop below the RMB 160,000/mt mark. Their consensus is that domestic tin prices seem unrelated to LME tin prices at the moment and are mainly determined by domestic supply and demand. Capital pressure at year’s end will force more smelters to move goods at lower prices. This, however, proved little supportive for consumption and therefore may lead to further losses of the metal.