Nigerian tin concentrate market saw more deals
2023-04-11 08:17:07 [Print]
BEIJING (Asian Metal) 11 Apr 23 - Boosted by active purchases from downstream clients, the market saw more deals during the past week. The current mainstream prices of Nigerian tin concentrate 70%min stand at USD22,900-23,000/metal ton EXW, down by USD100/metal ton from last Friday. Due to active market, insiders predict that the mainstream prices of Nigerian tin concentrate would go up as following days.
"The market demand kept strong during the past week. Even if the LME is closed today, we could receive some inquiries from clients", a trader in Nigeria reported. They offered about USD23,000/metal ton EXW for tin concentrate 70%min with a concession of USD100/metal ton today but didn't close any deal due to no goods in hand. While they last sold about 10 metal tons at around USD23,000/metal ton with no more concession on last Friday. They mentioned that more foreign customers purchased from Nigeria since this year and they predicted the mainstream prices of Nigerian concentrate would go up in the upcoming days.
With a typical monthly sales volume of around 60 metal tons, they plan to sell about 60 metal tons this month, in line with last month, holding no inventory at present.
Another Nigerian trader claimed, "No matter how the price fluctuates, we could receive inquiries almost every day due to tight supply." They quoted USD22,600/metal ton EXW for tin concentrate 60%min and with no more concession but failed to close any deal today due to insufficient spot goods. They could consider accepting the price as low as USD22,450/metal ton but didn't make a deal on last Friday for the same reason. While they last sold about 5 metal tons at USD22,800/metal tons in early last week. Due to active market, they believed the mainstream prices of Nigerian tin concentrate would move up this week.
The trader, based on a regular monthly sales volume of about 50 metal tons, they plan to sell about 40 metal tons this month, on par with last month. They hold no stock in hand now.
"The market demand kept strong during the past week. Even if the LME is closed today, we could receive some inquiries from clients", a trader in Nigeria reported. They offered about USD23,000/metal ton EXW for tin concentrate 70%min with a concession of USD100/metal ton today but didn't close any deal due to no goods in hand. While they last sold about 10 metal tons at around USD23,000/metal ton with no more concession on last Friday. They mentioned that more foreign customers purchased from Nigeria since this year and they predicted the mainstream prices of Nigerian concentrate would go up in the upcoming days.
With a typical monthly sales volume of around 60 metal tons, they plan to sell about 60 metal tons this month, in line with last month, holding no inventory at present.
Another Nigerian trader claimed, "No matter how the price fluctuates, we could receive inquiries almost every day due to tight supply." They quoted USD22,600/metal ton EXW for tin concentrate 60%min and with no more concession but failed to close any deal today due to insufficient spot goods. They could consider accepting the price as low as USD22,450/metal ton but didn't make a deal on last Friday for the same reason. While they last sold about 5 metal tons at USD22,800/metal tons in early last week. Due to active market, they believed the mainstream prices of Nigerian tin concentrate would move up this week.
The trader, based on a regular monthly sales volume of about 50 metal tons, they plan to sell about 40 metal tons this month, on par with last month. They hold no stock in hand now.
