SMM Daily Review - 2012/2/27 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2012/2/27 Tin Market

SMM Insight 08:45:58AM Feb 28, 2012 Source:SMM

SHANGHAI, Feb. 28 (SMM) – Spot tin traded mainly between RMB 173,000-175,000/mt in Shanghai on Monday. Trading was slightly active at the low end but quiet at the high end. Kaiyuan branded ingots due to arrive today were traded RMB 172,800-173,000/mt. Jinhai, Yunshan and Yunxiang struck deals between RMB 173,000-174,000/mt while Yunxi and Yunheng concluded transactions between RMB 174,000-175,000/mt. While the low end climbed further following previous climbs to RMB 173,000/mt, buying interest downstream was low.

In an SMM survey on this week’s tin prices, 50% market players covered expect stability, citing stability in LME tin prices, low selling interest at low prices and weak downstream demand. 30% respondents said the metal face downside risks due to strong resistance at USD 24,000-24,200/mt for LME tin, weak demand and a possible injection of lower-priced goods by Jiangxi smelters. Remaining 20% respondents expressed optimism which is based on stability in LME tin prices, stock replenishing demand as well as limited supply.

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

Price

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Gold(99.99%)
Apr.25
279.8
1.4
(0.50%)
Gold(99.95%)
Apr.25
279.7
1.4
(0.50%)
#1 Silver(99.99%)
Apr.25
3499.0
20.0
(0.57%)
Silver(99.95%)
Apr.25
3484.0
20.0
(0.58%)
Silver(99.90%)
Apr.25
3469.0
20.0
(0.58%)

SMM Daily Review - 2012/2/27 Tin Market

SMM Insight 08:45:58AM Feb 28, 2012 Source:SMM

SHANGHAI, Feb. 28 (SMM) – Spot tin traded mainly between RMB 173,000-175,000/mt in Shanghai on Monday. Trading was slightly active at the low end but quiet at the high end. Kaiyuan branded ingots due to arrive today were traded RMB 172,800-173,000/mt. Jinhai, Yunshan and Yunxiang struck deals between RMB 173,000-174,000/mt while Yunxi and Yunheng concluded transactions between RMB 174,000-175,000/mt. While the low end climbed further following previous climbs to RMB 173,000/mt, buying interest downstream was low.

In an SMM survey on this week’s tin prices, 50% market players covered expect stability, citing stability in LME tin prices, low selling interest at low prices and weak downstream demand. 30% respondents said the metal face downside risks due to strong resistance at USD 24,000-24,200/mt for LME tin, weak demand and a possible injection of lower-priced goods by Jiangxi smelters. Remaining 20% respondents expressed optimism which is based on stability in LME tin prices, stock replenishing demand as well as limited supply.

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