SMM Tin Price Forecast (Jun. 11-15)

SHANGHAI, Jun. 11 (SMM) – Last week, prices in Shanghai tin market continued falling and moved between RMB 151,500-152,500/mt as of Friday. Selling interest among smelters remained low, leaving limited goods circulating in the market. However, since dealers replenished stocks cautiously on falling prices and since downstream demand remained weak, a few smelters hoping to sell goods reported low sales. The rising LME tin prices failed to boost domestic tin market, leaving the market extremely depressed. Although some smelters cut or halted production, tin prices were not driven up due to the oversupply in the market.