SHANGHAI, Aug. 7 (SMM) – Tin prices in China are unlikely to see a turnaround next week, given poor market fundamentals.
Domestic market is awash with supplies. What’s worse, current SHFE/LME tin price ratio is unfavorable for exports. Demand during this year’s off-season is softer than in years past.
Tin prices in domestic spot market are expected between 108,000-110,000 yuan per tonne next week.
LME tin should range $15,000-16,000 per tonne, versus 106,000-110,000 yuan per tonne for SHFE 1509 tin.
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