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Tin-SHMET Spot Market Briefing20130716

Date 7/16/2013 2:56:04 PM Source: SHMET
Jul.16,2013(SHMET)--

The quotations for spot tin are between 137000-139000 rmbs/ton. Unchanged from last trading day. Kaiyuan, Jinlong and Jinhai gave out a price of 137000 rmbs/ton, Yunheng quoted at 138000 rmbs/ton. The offered prices from Yunxi are 139000 rmbs/ton. London tin fluctuated and closed lower. The main reason is the strength of U.S. dollar and slowed China economic growth brought concerns to the market. In short term, London tin were expected to remain range bound. Learned from the traders, there were not strong purchase intention from the downstream manufacturer, and the trading volume are not good. Unless stimulated by goods news, zinc price would not have significant fluctuation. Despite the zinc price fluctuate in short term, most investors held pessimistic view judging by the long term market.

Edited by SHMET