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SMM Tin Weekly Price Review and Forecast (2-6 Sept. 2013)

iconSep 3, 2013 08:13
Source:SMM
Spot tin prices in China fell influenced by weakening LME tin, with decline accelerating in latter half of the week when more cheap resources became available in the market.

 SHANGHAI, Sept. 3 (SMM) – Spot tin prices in China fell influenced by weakening LME tin, with decline accelerating in latter half of the week when more cheap resources became available in the market. As a result, spot prices slipped to RMB 140,800-143,000/mt last Friday. Trading remained thin as falling prices fueled wait-and-see mood among downstream buyers. Cargo holders increased supplies due to financial pressure at month’s end, and the resulting ample supply against soft consumption placed greater downward pressure on spot prices. Yunnan Tin Group held quotes firm, but most other smelters were forced to lower their bid prices, dragging down overall prices.

 
spot tin price

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