SMM Tin Market Morning Review (2015-9-29)

Published: Sep 29, 2015 09:47

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Negative Chinese economic data and slump in mining giant Glencore’s shares triggered selloffs in base metals.

SHANGHAI, Sept. 29 (SMM) – Negative Chinese economic data and slump in mining giant Glencore’s shares triggered selloffs in base metals. However, LME tin bucked the trend by rising, and ended Monday at USD 15,505/mt.

During Monday’s night session, SHFE 1601 tin fell to RMB 96,220/mt, but then tracked LME tin up to close at RMB 97,420/mt. The most active contract should move between RMB 96,500-98,000/mt today. In China’s spot market, demand but will remain soft, but prices are unlikely to fall sharply. Mainstream traded prices are expected between RMB 97,000-98,500/mt on Tuesday.

Sn price 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.

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