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Tin-SHMET Spot Market Briefing20150831

Date 8/31/2015 2:31:30 PM Source: shmet
Aug.31,2015(SHMET)--

LME tin rose slightly on Friday first recovered from the low in Asia following a stronger Chinese equity market, but was then sold into gains after London opened as traders taking profits saw price reached 13600 dollars the low. It then started to rebound as US equity market rallied and US GDP data bounced up to 3.7% surprised market and gave sentiment a boost. Eventually it closed at 14250 dollars, up 2.6%. Shanghai spot tin was quoted at 101000-103000 rmbs per ton, down 500. Yunxi factory gate was quoted at 105000 rmbs per ton, Yunheng was at 103000 rmbsper ton. Yunshan and Yunxiang were at 102000 rmbs per ton, Nanshan and Weitai were at 101000 rmbs per ton. Today, the spot tin fell and the consecutive falls in tin price intensified the sidelines sentiment. Consumptions seemed to be more sluggish. The replenishment plans of factory also were put off. Only a small number of large-size companies remained normal purchasing. The trading conditions was modest.

 

Edited by SHMET