SMM Daily Review - 2012/5/22 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2012/5/22 Tin Market

SMM Insight 09:27:39AM May 23, 2012 Source:SMM

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.

SMM Daily Review - 2012/5/22 Tin Market

SMM Insight 09:27:39AM May 23, 2012 Source:SMM

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.