SMM Tin Price Forecast (Jul. 23-27)

SHANGHAI, Jul. 23 (SMM) – Last week, spot tin prices in Shanghai tin market continued falling while remaining relatively stable. SMMI.Sn was the only metal reported losses last week by falling 0.34%. Tin spot prices were not boosted by LME tin prices, and were dragged to RMB 146,500-148,000/mt from RMB 147,000-148,500/mt due mainly to the weak demand. Trading kept quiet with strong wait-and-see sentiment in the market. Smelters still limited supply, leaving fewer goods circulating in the market and trading volumes. Transactions were mainly made for brands from Yunnan and Jiangxi. Demand from downstream enterprises was still unimproved with orders and output remained limited.