SMM Tin Market Daily Review (2015-6-16)

SHANGHAI, Jun. 17 (SMM) – The most active SHFE tin contract opened at RMB 112,390/mt on Tuesday and rose briefly but failed to break through RMB 112,650/mt. The prices fell sharply in the afternoon and ended the session at RMB 111,700/mt, down RMB 1,590/mt, or 1.4%. Positions declined to 3,668 and trading volumes fell by 110 lots to 1,166 lots. SHFE 1509 tin contract positions were growing.

Spot tin prices were RMB 112,500-114,000/mt Tuesday. Supply was limited, and goods of Yunnan Tin traded at RMB 113,500-114,000/mt. Prices of other brands, including Yunheng, Yunshan, Yunxiang and Tianti, were RMB 112,500-112,800/mt. Downstream buyers rarely purchased. Prices fell further in the afternoon, with some products from Yunnan offered at RMB 111,500/mt.