SMM Tin Price Forecast (Feb. 20-24)-Shanghai Metals Market

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SMM Tin Price Forecast (Feb. 20-24)

SMM Insight 03:22:26PM Feb 20, 2012 Source:SMM

SHANGHAI, Feb. 20 (SMM) -- Following a slide to below RMB 180,000/mt in the previous week, spot tin prices dropped further to RMB 173,000-177,000/mt last week in Shanghai, with the SMMI.Sn index dropping 1.94% on a weekly basis. Trading was quite light in the week due to renewed uncertainties in the Greek debt crisis. Tin price was quite sensitive to development in the macroeconomic side as supply turned normal after smelters resumed production while downstream demand stays weak. Goods holders were open to deals but downstream businesses mostly were slowly consuming stocks built ahead of Chinese New Year with operating rates held low. Rare deals during the week fostered an insight among goods holders that traded volume will not improve even after tin prices drop.
 

Key Words:  tin price   tin Sn   spot tin   Shanghai 

Price

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Gold(99.99%)
Apr.19
279.4
1.3
(0.48%)
Gold(99.95%)
Apr.19
279.5
0.9
(0.33%)
#1 Silver(99.99%)
Apr.19
3511.0
10.0
(0.29%)
Silver(99.95%)
Apr.19
3496.0
10.0
(0.29%)
Silver(99.90%)
Apr.19
3481.0
10.0
(0.29%)

SMM Tin Price Forecast (Feb. 20-24)

SMM Insight 03:22:26PM Feb 20, 2012 Source:SMM

SHANGHAI, Feb. 20 (SMM) -- Following a slide to below RMB 180,000/mt in the previous week, spot tin prices dropped further to RMB 173,000-177,000/mt last week in Shanghai, with the SMMI.Sn index dropping 1.94% on a weekly basis. Trading was quite light in the week due to renewed uncertainties in the Greek debt crisis. Tin price was quite sensitive to development in the macroeconomic side as supply turned normal after smelters resumed production while downstream demand stays weak. Goods holders were open to deals but downstream businesses mostly were slowly consuming stocks built ahead of Chinese New Year with operating rates held low. Rare deals during the week fostered an insight among goods holders that traded volume will not improve even after tin prices drop.
 

Key Words:  tin price   tin Sn   spot tin   Shanghai