SMM Daily Review - 2012/3/21 Tin Market

SHANGHAI, Mar. 22 (SMM) – Mainstream spot tin prices slipped another day on Wednesday to RMB 170,000-172,000/mt in Shanghai. Purchases increased in the afternoon following deals at RMB 169,500/mt. Most deals were done at the lower band of RMB 169,500-170,500/mt, including those of Jinhai, Nanshan, Kaiyuan and Jinlong. Yunxi and Yunshan struck deals between RMB 171,000-171,500/mt. Deals at RMB 172,000/mt were relatively quiet. Though smelters have been reluctant to move stocks, supply is sufficient in the face of weak demand. SMM expects limited downward space for domestic tin prices as LME tin continues to stagnate.