Tin ingot market keeps going down

BEIJING (Asian Metal) 18 Sep 08 – 3-month tin on LME continues to drop by USD400/t to USD18,100/t this Tuesday, and tin market also followed suit this Tuesday. Most suppliers still hold some stocks and are reluctant to sell facing the low bids from buyers.Asian Metal Copyright So the source is pessimistic about the market and believes that it will go down further in the following days.Asian Metal Copyright Moreover, buyers are reluctant to replenish their stocks, seeing that the market trend is on the downward movement.Asian Metal Copyright However, most buyers cannot accept the offer, so it is difficult for them to conclude deals at the above price.Asian Metal Copyright Tin market keeps quiet currently and sees few deals concluded.Asian Metal CopyrightA Guangxi-based producer reported that they have reduced their output to 200tpm from 300tpm accordingly, as the demand from consumers keeps low.Asian Metal Copyright

A Guangxi-based producer reported that they have reduced their output to 200tpm from 300tpm accordingly, as the demand from consumers keeps low. They reduced the offer of tin ingot by RMB1,000/t (USD146/t) to RMB153,000/t (USD22,401/t) ex works this Tuesday and received some inquiries, but no deal was concluded.Asian Metal Copyright“We are also reluctant to sell in view of our production cost,” said the source, adding that the demand from some electronic plants keeps low, which will continue to press down the market.Asian Metal Copyright The source disclosed that most buyers prefer to watch the market and are cautious to buy, believing that tin market will keep going down.Asian Metal Copyright However, most buyers cannot accept the offer, so it is difficult for them to conclude deals at the above price.Asian Metal Copyright

“We are also reluctant to sell in view of our production cost,” said the source, adding that the demand from some electronic plants keeps low, which will continue to press down the market. So the source is pessimistic about the market and believes that it will go down further in the following days.

Another Guangxi-based producer claimed that their plant keeps the output at 300tpm and they reduced the offer to RMB153,000/t (USD22,401/t) ex works, almost RMB1,000/t (USD146/t) lower than the price in the previous day. They still hold 50t of the material on hand and are not in a hurry to sell.Asian Metal Copyright The source disclosed that most buyers prefer to watch the market and are cautious to buy, believing that tin market will keep going down.Asian Metal Copyright However, most buyers cannot accept the offer, so it is difficult for them to conclude deals at the above price.Asian Metal CopyrightAnother Guangxi-based producer claimed that their plant keeps the output at 300tpm and they reduced the offer to RMB153,000t USD22,401t ex works, almost RMB1,000t USD146t lower than the price in the previous day.Asian Metal Copyright

“We are still watching tin market and hope that the market can keep stable in the following days,” said the source, adding that the price of tin ingot may keep going down if the demand from consumers does not improve greatly in the near future.