SMM Daily Review - 2012/5/9 Tin Market

SHANGHAI, May 10 (SMM) – In Shanghai tin market, tin prices continued a downward trend, with mainstream traded prices between RMB 160,000-163,000/mt Wednesday, and with a few goods quoted between RMB 159,500-159,800/mt. Trading was still soft with strong wait-and-see sentiment. Nanshan, Jinlong, Yunxiang and Yunshan were traded between RMB 160,000-161,500/mt, and most transactions for Yunxi were made between RMB 162,000-163,000/mt. In the afternoon, spot market was depressed by falling LME tin prices. Traders replenished cautiously and were willing to sell goods, but demand remained weak. Some deals for Nanshan were done at RMB 159,500/mt. Lower prices failed to promote transactions, leaving market quiet.