SMM Tin Price Forecast (Apr. 30-May. 4)

SHANGHAI, Apr. 28 (SMM) – Spot prices in Shanghai tin market kept falling early last week and rallied slightly last Friday with traded prices tending to stabilize. Goods circulating in the market were limited due to low selling interest early in the week, but with imported tin quoted lower last Thursday, smelters were more willing to move goods. Jinlong and Kaiyuan were once quoted as low as RMB 163,000/mt. On Friday, LME tin prices continued the upward trend, easing bearish moods in the market, and mainstream traded prices maintained within the RMB 163,500-165,500/mt. Replenishments downstream were sparse ahead of the May Day holiday, and transactions did not improve.