SMM Tin Market Daily Review (2015-3-30)

SHANGHAI, Mar. 31 (SMM) – In Shanghai spot tin market, mainstream traded prices fell to RMB 118,000-120,500/mt. The price decline was the result of falling LME tin and slack downstream demand. 

 

SMM surveyed market players in domestic tin industry. 

 

70% of them are bearish toward tin prices this week: market is still dominated by bearish sentiment. LME tin reentered downward track, and SHFE tin lacks upward momentum. Falling supply and weakening demand in domestic spot market will bode ill for spot prices. LME tin should move between USD 16,800-17,100/mt, SHFE tin should range RMB 116,000-118,500/mt, and spot prices in China are expected between RMB 117,000-119,500/mt. 

 

The remaining 30% expect tin prices to hold stable: smelters of delivery brand tin will hold back goods, allowing SHFE tin to stabilize. Demand should improve at the beginning of the month, which will support spot prices stable between RMB 118,000-120,500/mt. LME tin is expected to move between USD 17,000-17,300/mt, and SHFE tin is expected between RMB 117,500-120,000/mt.