SMM Tin Market Daily Review (2013-10-23)

SHANGHAI, Oct. 24 (SMM) – In Shanghai spot tin market, prices drifted higher to RMB 147,000-151,000/mt on October 23 helped by rising LME tin overnight. Major tin smelters raised quotations, leaving limited cheap goods available in the market, but demand was unimproved. In the afternoon, traders increased low end price to RMB 145,000/mt, but the subsequent falls in LME tin dragged spot prices back to RMB 147,000/mt. Trading waned in the afternoon, and most traders found it difficult to push up prices against the tepid consumption downstream.