SMM Tin Weekly Price Review and Forecast (Mar. 17-21, 2014)

SHANGHAI, Mar. 17 (SMM) – In Shanghai’s physical tin market, prices followed LME tin down to RMB 138,000-140,000/mt last Monday. Lower prices lured downstream producers and traders to enter the market the next day, improving trading slightly. Most smelters were reluctant to sell at low prices, allowing the low-end price to rebound to RMB 138,800/mt Thursday afternoon. Prices of first-tier brand goods had little upward momentum, though. Most transactions were between RMB 139,000-141,000/mt by Friday. The price rise was driven largely by falling supply of second- and third-tier brand goods, rather than by a pickup in demand.