SMM Daily Review - 2012/5/8 Tin Market

SHANGHAI, May 9 (SMM) – On Tuesday, transactions in Shanghai spot tin market remained gloomy with prices keeping falling. Mainstream traded prices were between RMB 161,500-164,000/mt in the morning, but quotations between RMB 160,500-161,000/mt were frequently heard in the afternoon due to the slack consumption and since some dealers sold goods at low prices. Deals for Yunxi, Yunheng, Nanshan, Yunxiang and Weitai were mainly concluded between RMB 160,500-163,000/mt. Quotations from Yunxi remained firm at RMB 164,000/mt. Trading kept weakening with several of dealers reporting no transaction done. Meanwhile, most enterprises downstream just waited on the sidelines with no intention to purchase, and dealers were also cautious replenishing due to low sales. Given the downtrend in spot tin market, tin prices may drop further.