SMM Daily Review - 2012/5/10 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2012/5/10 Tin Market

SMM Insight 08:56:51AM May 11, 2012 Source:SMM

SHANGHAI, May 11 (SMM) – Trading in Shanghai tin market was rather quiet with market dominated by pessimism Thursday. Mainstream traded prices were between RMB 159,000-162,000/mt, and a few deals were done at RMB 158,500/mt. Traded prices for Nanshan and Jinlong were mainly around RMB 159,000/mt, while most transactions for Yunxi and Yunheng were concluded between RMB 159,500-162,000/mt. Inquiries were rarely heard, leaving trading light. Given the falling LME tin prices and weakening demand downstream, purchases were even fewer at lower prices. Dealers would not replenish stocks while those dealers holding tin inventories were eager to sell goods fearing further price declines. Wait-and-see sentiment prevailed in the market.

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Oct.23
698.0
1.0
(0.14%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.23
91.1
0.0
(0.03%)
58% Fe Fines (Qingdao Port): IOPI58
Oct.23
635.0
13.0
(2.09%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.23
83.4
1.7
(2.07%)
65% Fe Fines (Qingdao Port): IOPI65
Oct.23
736.0
-1.0
(-0.14%)

SMM Daily Review - 2012/5/10 Tin Market

SMM Insight 08:56:51AM May 11, 2012 Source:SMM

SHANGHAI, May 11 (SMM) – Trading in Shanghai tin market was rather quiet with market dominated by pessimism Thursday. Mainstream traded prices were between RMB 159,000-162,000/mt, and a few deals were done at RMB 158,500/mt. Traded prices for Nanshan and Jinlong were mainly around RMB 159,000/mt, while most transactions for Yunxi and Yunheng were concluded between RMB 159,500-162,000/mt. Inquiries were rarely heard, leaving trading light. Given the falling LME tin prices and weakening demand downstream, purchases were even fewer at lower prices. Dealers would not replenish stocks while those dealers holding tin inventories were eager to sell goods fearing further price declines. Wait-and-see sentiment prevailed in the market.