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SMM Tin Market Daily Review (2015-4-13)

iconApr 14, 2015 10:10
In Shanghai spot tin market, mainstream traded prices fell further to RMB 113,500-117,000/mt on Monday.
SHANGHAI, Apr. 14 (SMM) – In Shanghai spot tin market, mainstream traded prices fell further to RMB 113,500-117,000/mt on Monday. Smelters rushed to sell at lower prices out of pessimism. Falling prices drove many buyers into a wait-and-see posture. 
 
SMM surveyed market players in domestic tin industry. 
 
65% of them expect tin prices to hold stable this week: LME tin is expected to hover around USD 16,500/mt. SHFE 1507 tin contract might find support at RMB 115,000/mt in thin trading. Prices in domestic spot market are expected to stabilize around RMB 115,000/mt, due to correction after dramatic declines.  
 
The remaining 35% are bearish: LME tin will test support at USD 16,300/mt, due to a strong US dollar and falling crude oil. SHFE 1507 tin contract will be vulnerable at RMB 115,000/mt, due to massive entry of bears. Prices in domestic spot market might fall towards RMB 110,000/mt mark, due to selloffs.   
 
 
 
 
 
Shanghai tin prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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