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SHMET Spot Market Briefing 20100607-Tin

Shanghai Spot Metal Quote (SHMET) More
Jun 04 2010
Metals Price(RMB/T) Change(RMB) b/c(RMB)
Copper 50000-50200 -3350 c 250/c 100
Aluminum 13840-13880 -690 b 50/b 90
Lead 14000-14200 -350  
1#Zinc 13550-13650 -700 c 230/c 130
0#Zinc 13600-13700 -700 c 180/c 80
Tin 140000-142000 -750  
Nickel 148000-151000 -6000  

 

Tin
China’s spot Tin is quoted from RMB 140000 to 142000 per tonne, down RMB 750 per tonne. Affecting by the worse American employment data as well as the euro against the dollar has gone lower below $1.2, LME market continued to put pressure on the metal market. The drop range of LME Tin which performed tender before was very large today. But the domestic quotation wasn’t at the lower level, so the sales is weak in the morning.

“ We have only sold 4 tonnes of tin, such as 1#Kaiyuan Tin, 0#Kaiyuan Tin and Yunnan Tin around RMB 139500 per tonne. The market appeared to be in wait-and-see mode. The situation overseas is very volatile, as there are much bad news emerged in an endless stream and the economic controlling policy is too tight in China. The sales is really weak.” Some tin trader said to SHMET.

“ The slump of LME Tin is so large, but on the domestic market, the quotation of many traders are still very conservative. Upstream consumers are unwilling to sell goods and the domestic tin went down a little. Most of traders on the market quoted beyond RMB 140000 per tonne. Downstream consumers hold wait-and-see attitude toward to the market.” Another tin trader said to SHMET.
 




more analysis please visit at http://en.shmet.com

SHMET History Data for Nickel (from2001 to 2010) please visit at http://en.shmet.com/Data/Data.aspx?metal=7&year=2010

The Most authoritative non-ferrous metals index in China—SHMETX please check: http://en.shmet.com/PriceIndex/Shmetx.aspx

Shanghai Metal Price Index, “SHMETX” for short, reflects non-ferrous metals’ spot prices of Shanghai comprehensively, compiled and published by Shanghai Metals Exchange (“SHMET”). Its characteristics are objective, high-efficiency, professional, authoritative, etc. The average prices of sampling varieties can be the standard of quoting prices and reference inside and outside the industry.

Disclosure: no position