SMM Daily Review - 2012/2/14 Tin Market

SHANGHAI, Feb. 15 (SMM) – Spot tin prices dropped further to RMB 175,000-180,000/mt in Shanghai on Tuesday, with the low-end slipping by nearly RMB 2,000/mt, after Moody’s cast more downgrades for European countries and due to weak demand and losses in LME tin prices. Goods holders’ selling interest was strong but buying interest was weak at downstream buyers who mostly have been consuming stocks prepared ahead of Chinese New Year. In addition, low operating rates at downstream means consuming of existing stocks will last. A strong wait-and-see attitude was present in the market. Mainstream tin brands of the day were Yunxi, Nanshan and Jinlong and the traded volume stayed light.