Tin consumers still sitting out of the market

The sentiment in Chinese spot tin market is weakening, as 3-month tin seems that it would not have any great gains but continues to consolidate at around USD14,000/t on LME in the near term. With the softening tin ingot offers, Chinese tin ingot consumers prefer to watch the market closely, with no plan to rebuild stocks.

A tin consumer in Jiangsu, who consumes about 20t of tin ingot per month, said, “Spot tin ingot prices are dipping slightly in Chinese market, so we would like to sit out of the market in the short term, waiting for lower price.”

The consumer received offers from traders at about RMB10,6,000-107,000/t (USD13,856-13,987/t) ex works. “The tin ingot of Yun Tin brand is at RMB108,000/t (USD14,118/t), down by about RMB2,000/t (USD261/t) compared with early May, but we would not place order in the short term, as the price may continue to head down in the following weeks,” said the source.

A tin consumer in Hebei reported that their plant is still out of production. The source said that tin ingot price hovered at the range of RMB105,000/t (USD13,725/t) and RMB110,000/t (USD14,379/t) in the past months, scaring away the demand from consumers.

According to the source, the tin ingot is traded at about RMB107,000/t (USD13,987/t) in the local market, on a par with late last week, but there are little buying interest from buyers.

The consumer has no plan to resume production so far..




Sam Xu
Sales Engineer

DONGGUAN JIEFU FLAME-RETARDED MATERIALS CO.,LTD
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