SMM Tin Price Forecast (May 14-18)

SHANGHAI, May 14 (SMM) – Last week, market confidence was severely depressed by the falling LME tin prices, with spot prices in Shanghai tin market falling to RMB 157,500-161,000/mt Friday, down from RMB 162,000-164,500/mt early last week. Trading was even lighter in the market. Some enterprises were reluctant to move goods due to remaining high costs, but others were willing to sell due to cash needs. Dealers were cautiously replenishing stocks, and buying interest at enterprises downstream was low. Since demand remained sluggish, limited goods supply failed to give any support to tin prices. In this context, tin market will not likely improve in the near term.