SMM Tin Weekly Price Review and Forecast (1-5 Jul. 2013)

SHANGHAI, Jul. 1 (SMM) – Spot tin prices fell further due to a lack of buying support and finally ended at RMB 138,000-139,000/mt last Friday. Cargo holders in spot tin market were unwilling to move goods Thursday afternoon due to rallies in LME tin, leaving few goods quoted below RMB 138,000/mt. Downstream consumers were more reluctant to purchase after entering low-demand season and due to the falling tin prices. Although smelters limited supplies, tin market was still in surplus, which may continue to drag down tin prices.