SMM Tin Price Forecast (Feb. 27- Mar. 2)

SMM Insight 05:12:15PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) -- Spot tin prices dropped further to near RMB 171,000/mt in Shanghai last Monday, with a lowest traded price of RMB 170,500/mt for Jiangxi ingots being seen on the following Tuesday. LME tin’s return to above USD 24,000/mt and the second Greek bailout deal reached helped Shanghai spot tin prices rebound a little bit and stabilize between RMB 172,000-175,000/mt by Thursday. The trading range narrowed further, with the low end climbing to RMB 172,500/mt, on Friday. After spot tin prices returned above RMB 172,000/mt, bargain hunters moved to the sidelines, leading again to light trading. Spot tin demand stayed depressed as a result of low operating rates downstream in the face of weak terminal demand. Mainstream tin brands during the week were Yunxi, Yunheng, Yunshan, Yunxiang, Nanshan, Jinlong and Kaiyuan. While overall demand has been weak, stock replenishing demand and smelters' stronger confidence for the metal after LME tin price stabilized may help the low end price climb further. SMM therefore expects the metal to trade between RMB 173,000-175,000/mt this coming week in Shanghai.

 

 

Key Words:  tin price   tin Sn   spot tin   Shanghai   spot tin 

SMM Tin Price Forecast (Feb. 27- Mar. 2)

SMM Insight 05:12:15PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) -- Spot tin prices dropped further to near RMB 171,000/mt in Shanghai last Monday, with a lowest traded price of RMB 170,500/mt for Jiangxi ingots being seen on the following Tuesday. LME tin’s return to above USD 24,000/mt and the second Greek bailout deal reached helped Shanghai spot tin prices rebound a little bit and stabilize between RMB 172,000-175,000/mt by Thursday. The trading range narrowed further, with the low end climbing to RMB 172,500/mt, on Friday. After spot tin prices returned above RMB 172,000/mt, bargain hunters moved to the sidelines, leading again to light trading. Spot tin demand stayed depressed as a result of low operating rates downstream in the face of weak terminal demand. Mainstream tin brands during the week were Yunxi, Yunheng, Yunshan, Yunxiang, Nanshan, Jinlong and Kaiyuan. While overall demand has been weak, stock replenishing demand and smelters' stronger confidence for the metal after LME tin price stabilized may help the low end price climb further. SMM therefore expects the metal to trade between RMB 173,000-175,000/mt this coming week in Shanghai.

 

 

Key Words:  tin price   tin Sn   spot tin   Shanghai   spot tin