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SMM Daily Review - 2010/1/19 Tin Market
SHANGHAI, Jan. 20 (SMM) -- On Monday night, LME tin prices continued to fell and closed at USD 17,940/mt, with prices reaching the highest level at USD 18,220/mt and felling below USD 18,000/mt. On Tuesday, LME tin prices moved narrowly around USD 18,000/mt. Since LME tin prices experienced robustly increase in the past, prices are supposed to experience corrections at high levels.
Trading sentiment was not bullish in the Shanghai tin market. Goods from Pinggui Mining Bureau and Nanshan Tin Solder Co,Ltd dominated market transactions with traded prices in the RMB 141,000-141,500/mt range. Transactions of goods from Yunnan Tin Group were few with traded prices in the RMB 142,000-143,000/mt range. Downstream purchasers adopted a wait-and-see attitued again as LME nickel prices were to fell and prices of spot goods began to decline. This week, supply of unknown brands tin began to increase in the market in recent days.
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