SMM Tin Weekly Price Review and Forecast (Aug. 4-8, 2014)

SHANGHAI, Aug. 4 (SMM) – In Shanghai physical tin market, mainstream traded prices rose to RMB 141,000-142,500/mt last Wednesday, drawing support from rising LME tin and tight supply. Prices, however, slid to RMB 141,000-142,000/mt later in the week as LME tin had difficulty moving further up and downstream producers in China showed little buying interest. Smelters cut output due to power rationing and facility maintenance. Meanwhile, tightness in bank lending eased somewhat, so suppliers did not rush to sell. Downstream demand remained weak.