SMM Tin Price Forecast (May 28- Jun. 1)

SHANGHAI, May 28 (SMM) – Last week, traded prices in Shanghai tin market stabilized boosted by the rallying LME tin prices, leaving few goods quoted at low prices. Mainstream traded prices in Shanghai tin market were between RMB 154,500-155,500/mt last Friday. Transactions improved early last week since downstream buyers replenished stocks when tin prices tended to stabilize. However, the continuous increase in tin prices resurrected wait-and-see sentiment in the market and left transactions muted. Smelters in Jiangxi province were generally unwilling to move goods, so low price goods were rarely seen in the market. Meanwhile, consumption downstream remained soft, dampening upward movement of tin prices.