SMM Tin Market Daily Review (2012-11-14)

SHANGHAI, Nov. 15 (SMM) – On Wednesday, spot tin prices in Shanghai remained little changed from the previous day, with mainstream prices between RMB 146,500-148,000/mt. Trading was thin in the morning and several traders became more willing to purchase in the afternoon, but downstream buyers were still reluctant to buy goods with transactions mainly made between traders. Goods offered at around RMB 146,500/mt abated. Downstream enterprises reported poor orders, reflecting the sluggish demand. Smelters were not willing to move goods at the current prices, giving some support to spot tin prices. Prices are expected to follow a weak trend in the short term but the room for declines was limited.