SMM Tin Price Forecast (May 21-25)-Shanghai Metals Market

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SMM Tin Price Forecast (May 21-25)

SMM Insight 02:13:42PM May 21, 2012 Source:SMM

SHANGHAI, May 21 (SMM) – Last week, Shanghai tin market remained quiet. The continuous declines in LME tin prices depressed spot market, with spot tin prices falling to RMB 153,500-156,000/mt from the early week RMB 156,500-160,000/mt, representing the largest loss among base metals in domestic market. Transactions were modest in general, with only some dealers replenishing stocks moderately last Thursday when LME tin prices edged up briefly. Smelters were not willing to move goods due to falling tin prices, but a few smelters sold in limited amounts due to inventory pressures and needs for cash flow. Most downstream buyers still stayed out of the market with strong wait-and-see sentiments.

SMM Tin Price Forecast (May 21-25)

SMM Insight 02:13:42PM May 21, 2012 Source:SMM

SHANGHAI, May 21 (SMM) – Last week, Shanghai tin market remained quiet. The continuous declines in LME tin prices depressed spot market, with spot tin prices falling to RMB 153,500-156,000/mt from the early week RMB 156,500-160,000/mt, representing the largest loss among base metals in domestic market. Transactions were modest in general, with only some dealers replenishing stocks moderately last Thursday when LME tin prices edged up briefly. Smelters were not willing to move goods due to falling tin prices, but a few smelters sold in limited amounts due to inventory pressures and needs for cash flow. Most downstream buyers still stayed out of the market with strong wait-and-see sentiments.