Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

SHMET Spot Market Briefing 20100603-Tin

Shanghai Spot Metal Quote (SHMET) More
Jun 03 2010
Metals Price(RMB/T) Change(RMB) b/c(RMB)
Copper 53750-54100 -300 b 100/b 250
Aluminum 14610-14650 -170 c 70/c 30
Lead 14450-14650 -50  
1#Zinc 14800-14900 -350 c 315/c 215
0#Zinc 14850-14950 -350 c 265/c 165
Tin 141000-143000 -250  
Nickel 162000-163000 -2000  


6/3/2010 2:19:52 PM

Tin
China’s spot Tin is quoted from RMB 141000 to 143000 per tonne, slightly down RMB 250 per tonne. Yunnan Tin is quoted around RMB 143000 per tonne, Hongyu and Yuta Tin are quoted at RMB 141000 per tonne. The sales is thin in the morning. Owing to price standing at a higher level at present, the market appears to be in wait-and-see mode.

“ Because the sales is poor on the tin market, our stock is on the decreasing trend generally and the total volume is about 50 tonnes now. As far as I know, some traders’ stocks only over 10 tonnes.” Some large tin trader said to SHMET.

“ We have only sold a tonne of lower-grade tin at RMB 142000 before 11 a.m in the morning. Downstream consumers considered that the price is too higher on the market and always hold bearish attitude toward the near-future market. What is more some insiders told us that tin price will drop below 140k.” Another tin trader said to SHMET.

more information please visite at http://en.shmet.com



Disclosure: no positions