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Home / Metal News / SMM Daily Review - 2011/12/27 Tin Market

SMM Daily Review - 2011/12/27 Tin Market

Dec 28, 2011 08:53

The trading range of spot tin narrowed in Shanghai on Tuesday as lower-priced supply contracted further.

SHANGHAI, Dec. 28 (SMM) – The trading range of spot tin narrowed in Shanghai on Tuesday as lower-priced supply contracted further. Resistance above remains strong, however. Yunxi, Yunxiang plus small amounts of Jinlong and Nancang branded tin traded mainly between RMB 158,200-159,000/mt. Smelters’ low selling interest and weak downstream demand have been continuously narrowing the trading range. While tin prices have stabilized at the moment, the possibility for the metal to strengthen is low. Further direction is expected from LME which reopens today following the Christmas Day holiday.

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