SHANGHAI, Jul. 15 (SMM) – In Shanghai physical tin market, mainstream traded prices were RMB 138,000-139,500/mt on Monday. Demand was soft, especially demand for top brand goods. As a result, the high-end price lost RMB 500/mt.
60% of the market players surveyed by SMM expect tin prices in Shanghai to hold largely stable between RMB 138,000-140,000/mt this week. They understand that smelters will keep low production against raw material shortage, which will prevent prices from falling.
Another 25% are worried that persistently lackluster downstream demand will send tin prices in Shanghai down to RMB 137,500/mt this week.
The remaining 15% believe that LME tin will stage a technical rebound, which will drive tin prices in Shanghai up as well.