SMM Tin Market Daily Review (2013-10-14)-Shanghai Metals Market

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SMM Tin Market Daily Review (2013-10-14)

Price Review & Forecast 09:50:35AM Oct 15, 2013 Source:SMM
SHANGHAI, Oct. 15 (SMM) – Spot tin prices in Shanghai held steady between RMB 150,500-153,500/mt Monday morning. The consolidation of LME tin limited any decline in tin prices, and tin smelters held quotations firm, offering strong support for spot prices. In the afternoon, spot tin prices began slipping dragged by weak demand. Prices for Nanshan and Jinlong dipped as low as RMB 149,500/mt, but transactions remained unimproved. 
 
SMM survey reveals that 45% of industry insiders believe tin prices will hold steady, noting that LME tin prices will consolidate at high levels with market awaiting result for the US debt ceiling talks. These market players hold that the LME tin prices will gain limited support even if the outcome of the talk turns out positive, as investors have become deadened to the hypes for such issue. Meanwhile, the concerns over Indonesia’s tin supply will continue to bolster LME tin. In Chinese tin markets, downward room for spot prices will also be limited as producers of well-known brands refuse to low quotes. Thus, spot tin prices are expected to find support at RMB 150,000/mt. 
 
40% or market players expect tin prices to fall this week due mainly to sluggish demand and rising selling interest among smelters. Investors are less confident to market outlook, with wait-and-see sentiment looming. Some resources from Jiangxi were traded as low as RMB 150,000/mt on Monday, indicating that many smelters felt obliged to sell goods. That, combined with anemic consumption, many drag down spot tin prices. The US debt ceiling negotiation is another concern, as financial market will be largely hit if the negotiation does not run smoothly. 
 
The remaining 15% of investors are bullish given optimism to result of the US budget talk. Besides, the export restriction of Indonesia is believed to continue affecting the market, giving incentives for LME tin price increase. This will also help buoy spot tin prices in China.
Key Words:  spot tin price   LME tin price 

SMM Tin Market Daily Review (2013-10-14)

Price Review & Forecast 09:50:35AM Oct 15, 2013 Source:SMM
SHANGHAI, Oct. 15 (SMM) – Spot tin prices in Shanghai held steady between RMB 150,500-153,500/mt Monday morning. The consolidation of LME tin limited any decline in tin prices, and tin smelters held quotations firm, offering strong support for spot prices. In the afternoon, spot tin prices began slipping dragged by weak demand. Prices for Nanshan and Jinlong dipped as low as RMB 149,500/mt, but transactions remained unimproved. 
 
SMM survey reveals that 45% of industry insiders believe tin prices will hold steady, noting that LME tin prices will consolidate at high levels with market awaiting result for the US debt ceiling talks. These market players hold that the LME tin prices will gain limited support even if the outcome of the talk turns out positive, as investors have become deadened to the hypes for such issue. Meanwhile, the concerns over Indonesia’s tin supply will continue to bolster LME tin. In Chinese tin markets, downward room for spot prices will also be limited as producers of well-known brands refuse to low quotes. Thus, spot tin prices are expected to find support at RMB 150,000/mt. 
 
40% or market players expect tin prices to fall this week due mainly to sluggish demand and rising selling interest among smelters. Investors are less confident to market outlook, with wait-and-see sentiment looming. Some resources from Jiangxi were traded as low as RMB 150,000/mt on Monday, indicating that many smelters felt obliged to sell goods. That, combined with anemic consumption, many drag down spot tin prices. The US debt ceiling negotiation is another concern, as financial market will be largely hit if the negotiation does not run smoothly. 
 
The remaining 15% of investors are bullish given optimism to result of the US budget talk. Besides, the export restriction of Indonesia is believed to continue affecting the market, giving incentives for LME tin price increase. This will also help buoy spot tin prices in China.
Key Words:  spot tin price   LME tin price