SMM Daily Review - 2010/1/6 Tin Market

SHANGHAI, Jan. 7 (SMM) -- On Tuesday night, LME tin prices remained stable in the USD 17,350-17,500/mt range, with slower growth pace compared with the previous day, On Wednesday, LME tin prices continued to advance as usual to USD 17,500-17,650/mt range propelled by momentum of long positions.

In the Shanghai tin market, upstream producers still kept high offers for the expectation of price increases and traders kept firm offers at RMB 130,000/mt. High prices failed to generate downstream consumers' purchasing interest, since downstream purchasers had aleady replenished large amout of stock. Trading volumes dwindled significantly on Wednesday, while supply of tin also reduced due to expectation of price increases. Major brands circulating in the market were mainly from Yunnan Tin Group, Yunnan Gejiu Zili Metallurgy and Xianghualing Tin Industry.

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn