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Limited Supply to Support China Spot Tin Prices Next Week, SMM Says
May 15, 2015 17:15Source:SMM
Tin prices in China’s domestic spot market are expected to be weak next week, but limited supply will help support spot prices, Shanghai Metals Market foresees.
SHANGHAI, May 15 (SMM) – Tin prices in China’s domestic spot market are expected to be weak next week, but limited supply will help support spot prices, Shanghai Metals Market foresees.
“SHFE tin prices will move lower and may drop to 116,700 yuan per tonne in the coming week if losing support at 118,200 yuan per tonne,” said Crace Wu, SMM’s tin analyst.
China’s spot tin prices will follow the trend in SHFE tin market, but limited supply will give its support to fluctuate between 117,000-120,000 yuan per tonne, Crace added.
Yunnan Tin and China Tin Group has not yet resumed production, and production at producers in Jiangxi is also not stable, according to SMM sources.
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