SMM Daily Review – 2012/1/5 Tin Market

SHANGHAI, Jan. 6 (SMM) – Spot tin prices continued to climb in Shanghai on Thursday, with the mainstream trading range rising to RMB 160,000-160,500/mt. Though quotations at RMB 161,000/mt were seen, deals were rarely concluded. Mainstream tin brands during the day were Yunxi, Yunheng, Nanshan, Yunxiang and some tin futures. Low stocks have been the major driver of higher tin prices during recent two days. However, after tin prices climbed, more downstream buyers moved to the sidelines. That combined with weakness in LME tin means the metal has only limited upward space.