SMM Daily Review - 2012/5/31 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2012/5/31 Tin Market

SMM Insight 08:49:20AM Jun 01, 2012 Source:SMM

SHANGHAI, Jun. 1 (SMM) – In Shanghai tin market, mainstream traded prices were between RMB 154,000-155,000/mt on Thursday with demand remaining weak. Nanshan, Jinlong and Yunxiang were traded between RMB 153,500-154,000/mt, while most transactions for Yunxi were concluded between RMB 154,500-155,000/mt. Most market players only waited on the sidelines as the falling LME tin prices depressed market confidence, leaving inquiries from buyers downstream rarely reported. Dealers were not willing to purchase due to higher risks, while smelters willing to move goods reflected poor sales. It was reported most smelters have cut production, with some of them even suspended production on account of sluggish demand and high costs for raw materials. The market fundamentals will not be able to offer any support to tin prices.

SMM Daily Review - 2012/5/31 Tin Market

SMM Insight 08:49:20AM Jun 01, 2012 Source:SMM

SHANGHAI, Jun. 1 (SMM) – In Shanghai tin market, mainstream traded prices were between RMB 154,000-155,000/mt on Thursday with demand remaining weak. Nanshan, Jinlong and Yunxiang were traded between RMB 153,500-154,000/mt, while most transactions for Yunxi were concluded between RMB 154,500-155,000/mt. Most market players only waited on the sidelines as the falling LME tin prices depressed market confidence, leaving inquiries from buyers downstream rarely reported. Dealers were not willing to purchase due to higher risks, while smelters willing to move goods reflected poor sales. It was reported most smelters have cut production, with some of them even suspended production on account of sluggish demand and high costs for raw materials. The market fundamentals will not be able to offer any support to tin prices.