SMM Daily Review - 2012/5/22 Tin Market

SHANGHAI, May 23 (SMM) – On Tuesday, tin prices Shanghai spot market stabilized with low-end prices edging up due to limited low-price goods. Mainstream traded prices were between RMB 154,000-155,000/mt, and quotations, except for a few imported goods, were rarely reported below RMB 154,000/mt in domestic market. Trading was modest with most buyers only making inquiries. Nanshan, Jinhai, Jinlong and Yunxiang were mainly traded between RMB 154,000-154,700/mt, while most transactions for Yunxi were made at RMB 155,000/mt. In the afternoon, some goods were quoted above RMB 155,000/mt but transactions were sparse. Some enterprises downstream were more willing to enter the market due to a sign of stabilizing in LME tin prices, but remained relatively cautious. Meanwhile, market players were expecting spot prices to rise, but prices lacked upward momentum due to the weak demand.