SMM Tin Market Daily Review (2013-1-31)

SHANGHAI, Feb. 1 (SMM) – In Shanghai spot tin market, mainstream traded prices were between RMB 159,000-160,500/mt on January 31. Well-known brands were traded around RMB 160,000/mt, while a few goods of Yunxi were traded at RMB 160,500/mt. Deals for other brands were mainly done at RMB 159,000-159,500/mt. Trading was modest as demand weakened with downstream enterprises closing for the Chinese New Year holiday. In the afternoon, cargo holders became unwilling to move goods, with quotations raised, but transactions remained sparse. Market is expected to be influenced by the upcoming holiday recently.