SMM Tin Weekly Price Review and Forecast (22-26 Jul. 2013)

SHANGHAI, Jul. 22 (SMM) – In Shanghai spot tin market, prices were mainly at RMB 136,800-138,500/mt last week. Quotes from Yunnan Tin Group remained firm, while other smelters were unwilling to move goods, so prices gained certain support from the limited supplies. Besides, the consolidation of LME tin prices also helped keep domestic spot prices stable. The low-demand season for downstream buyers undermined their interest in purchasing tin ingot, leaving tin demand sluggish. On the other hand, many tin smelters cut production recently due to weak demand, high input costs and stricter environmental protection in several regions. Given the stalemate between buyers and sellers, spot tin prices remained in a narrow range, waiting for guides from LME tin.