SMM Tin Price Forecast (Apr. 23-27)

SHANGHAI, Apr. 23 (SMM) – Last week, domestic tin prices continued a downward trend, with mainstream traded prices falling to RMB 164,000-165,500/mt last Thursday, down from the RMB 166,500-169,000/mt on the previous Friday. Since low-priced goods dropped further, low-end prices edged up to RMB 164,500/mt last Friday. Smelters were reluctant to move goods due to the falling prices, while traders were unwilling to replenish in large amounts, leaving fewer goods supply in the market. Demand downstream was soft with market remaining cautious.