SMM Tin Weekly Price Review and Forecast (May. 4-8, 2015)

May 4, 2015 18:00

SHFE 1507 tin contract soared to RMB 117,960/mt last Monday as bulls jumped in, but began to fall back the next day.

SHANGHAI, May. 4 (SMM) –SHFE 1507 tin contract soared to RMB 117,960/mt last Monday as bulls jumped in, but began to fall back the next day. The most active contract closed last Wednesday at RMB 115,370/mt, up RMB 2,430/mt from a week ago.

In China’s spot market, prices followed SHFE tin up. Mainstream traded prices were RMB 115,000-117,000/mt last Wednesday. Rising LME and SHFE tin cheered market up, luring downstream producers to step up purchases. However, demand cooled after SHFE tin fell back. Spot prices stabilized last Wednesday.

SHFE tin prices

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SMM Tin Weekly Price Review and Forecast (May. 4-8, 2015)

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