SMM Daily Review - 2012/4/19 Tin Market

SHANGHAI, Apr. 20 (SMM) – In Shanghai tin market, spot tin prices fell on Thursday due to the declining LME tin prices, but the decrease was limited as prices gained support from insufficient goods supply. Mainstream traded prices were between RMB 164,000-165,500/mt and trading was modest. Kaiyuan, Jinlong and Nancang were mainly traded at RMB 164,000/mt. In the afternoon, some goods of Nancang were traded at RMB 163,500/mt. Most transactions for Yunxi and Yunheng were concluded between RMB 165,000-165,500/mt, and some transactions for Yunheng were made at between RMB 164,500/mt. Traders were unwilling to purchase due to uncertain market. As LME tin prices followed a weak trend and orders at downstream enterprises remained sluggish, market was dominated by pessimism.