SMM Tin Market Morning Review (2015-6-30)

Published: Jun 30, 2015 09:25

Save

LME tin opened at USD 14,800/mt on Monday.

SHANGHAI, Jun. 30 (SMM) –LME tin opened at USD 14,800/mt on Monday. The metal touched day’s high of USD 14,800/mt and day’s low of USD 14,315/mt before closing down USD 515/mt at USD 14,360/mt. Trading volumes were up 104 lots to 236 lots, and positions were up 102 to 19,299. Inventories grew 300 mt to 7,110 mt. Despite China’s interest rate and RRR cuts, the country’s stock market still slumped, souring market sentiment. Imminent Greek default also dampened investor sentiment. These negative factors were blamed for the decline in LME tin prices. Worries are growing the Greek debt issue will cause ripple effect on economies in Spain and Portugal. So, LME tin will remain vulnerable to declines and look for support at USD 14,300/mt on Tuesday.

SHFE 1509 tin contract fell to RMB 109,060/mt during Monday’s night session, but then rebounded to RMB 109,510/mt. SHFE 1509 tin opened lower on Tuesday as falling LME tin overnight prompted shorts to enter. The contract is expected to hover around RMB 110,000/mt on Tuesday. In domestic spot market, mainstream traded prices might fall to RMB 111,500-113,500/mt, dragged down by LME and SHFE tin.

LME tin prices Shanghai tin prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 mins ago

SHFE Aluminum Futures Slip, Central China Market Sees Weak Demand and Ample Supply

Today, SHFE aluminum futures saw a slight correction, and the transaction atmosphere in the central China market was mainly sluggish. Downstream processing enterprises' buying sentiment was low, and recently traders have been selling a large number of low-priced warrants, leading to ample market supply; suppliers were selling in a price-collapse-like manner, and their willingness to hold prices firm was weak. Ultimately, the actual transaction price range in the central China market was around a discount of 20-50 yuan/mt against the SHFE aluminum July contract, with prices showing a weakening trend.

5 mins ago

1 hour ago

[SMM Aluminum Flash News] Alcoa Secures Gas Supply Agreement with Woodside for Western Australia Alumina Refineries

Alcoa has signed a gas offtake agreement with Woodside Energy to supply a total of 31.1 petajoules of natural gas to its Western Australian alumina refineries from 2027 to 2030. The agreement strengthens near-term energy security for Alcoa's operations while supporting its long-term energy strategy, including gas supply beyond 2030 and greater integration of renewable energy. Alcoa employs around 4,000 people in Western Australia, and its gas-powered alumina refineries are among the lowest-carbon alumina refineries globally. The alumina produced at these facilities is used as the primary raw material for aluminium production.

1 hour ago

[SMM Aluminum Flash News] UK Strengthens Critical Minerals Strategy as ALFED Calls for Greater Recycling Investment

The UK Government is strengthening its Critical Minerals Strategy by investing in domestic extraction, processing, recycling and supply chain development to enhance resource security and economic resilience. The Aluminum Federation (ALFED) welcomed the move, noting that aluminum was officially designated as both a Critical Mineral and a Growth Mineral in 2024 under the UK's Vision 2035 framework. ALFED urged policymakers to place greater emphasis on aluminum recycling, remelting, sorting and supply security advanced processing to strengthen domestic supply chains and promote circular manufacturing. The federation highlighted that recycled aluminum can be reused indefinitely while requiring only around 5% of the energy needed to produce primary aluminum, making it a key material for low-carbon manufacturing and long-ter.

1 hour ago