SMM Daily Review - 2009/12/31 Tin Market

SHANGHAI, Jan. 4 (SMM) -- On Wednesday night, LME tin prices hit a yearly high at USD 16,865/mt and fell slightly later, fluctuating around USD 16,800/mt. Technically, prices still got strong support.

In the Shanghai tin market, even though offers of tin prices set a new high in the RMB 125,000-126,500/mt range, few suppliers were willing to move goods due to financial settlement restriction on the last trading day of 2009 and expectation of price increases. Cargo holders were reluctant to move goods and traded prices stabilized above RMB 125,000/mt. According to statistics of SMM, average annual prices of tin are at RMB 109,500/mt in 2009.

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