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SMM Tin Price Forecast (Dec. 12-16)
Dec 12,2011 14:56CST
smm insight
Source:SMM
Based on recent performance, China tin prices seem irrelevant to LME tin any more as domestic supply and demand exerts the decisive impact.

SHANGHAI, Dec. 12 (SMM) -- China tin prices continued to slip last week despite of a rally in LME tin. The lowest traded price had already dropped below RMB 160,000/mt. The SMM weekly average tin price dropped RMB 6,500/mt to RMB 162,500/mt from the previous week. The SMMI.Sn index lost the most 3.85% among base metals. Goods movements at lower prices by a few smelters had contributed to the continued drop. Based on recent performance, China tin prices seem irrelevant to LME tin any more as domestic supply and demand exerts the decisive impact. Capita 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. The dropping trend slowed during the second half of the week after tin prices found support at the RMB 160,000/mt mark and smelters were unwilling to cut prices further. Meanwhile, more buyers entered the market after LME tin showed signs of stabilization and amid optimism towards the EU summit last Friday.

tin price
Chin tin
LME tin
supply and demand

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