Market participants still optimistic about tin market
2007-08-08 10:24:43 【Print】
BEIJING (Asian Metal) 8 Aug 07 – Tin ingot prices stabilized at about RMB136,000/t (USD18,013/t) in Chinese market this week. However, most Chinese market participants still holds optimistic attitudes towards tin market, predicting that tin price may nose up further in the near term.
An official from a Guangxi-based tin smelter said that their smelter’s tin ingot supply would decline to 400t this month from about 500t last month, due to the shortfall of raw materials. “It’s difficult for us to obtain tin concentrate in the market now,” said the source.
Supported by the tight supply of the metal in the market, it’s not time for tin ingot price to retreat now, said the source. The plant’s tin ingot price is at about RMB136,000/t (USD18,013/t) delivered to buyers this week. “We find that the demand from consumers remains well, as they have to maintain normal production,” said the source. “Our tin ingot output is mainly supplied to buyers with long-term relationship.”
The source said that with the lead-free solder output increasing, the tin ingot consumption will increase further in the future. Meanwhile, most Chinese tin producers, except Yunnan Tin, have the troubles in the shortage of raw materials, leading to the growth of tin ingot production slowing down. Therefore, tin ingot market will remain firm in the near future. “The price may reach RMB140,000/t (USD18,543/t) in the short term,” said the producer.
The plant holds about 40t of stocks now.
A trader in Guangdong said that although the trading of tin ingot is not very active, the sentiment in the market remains strong, due to the tight supply in the market.
The trader quoted RMB136,500/t (USD18,079/t) for tin ingot 99.9%min, with few deals concluded this week.
“Tin ingot price is likely to rise inertially to about RMB140,000-150,000/t (USD18,543-19,868/t) in the coming days, as sellers always expect higher prices in the bullish market,” said the trader. “The tight supply is the major supportive factor to the market.”
An official from a Guangxi-based tin smelter said that their smelter’s tin ingot supply would decline to 400t this month from about 500t last month, due to the shortfall of raw materials. “It’s difficult for us to obtain tin concentrate in the market now,” said the source.
Supported by the tight supply of the metal in the market, it’s not time for tin ingot price to retreat now, said the source. The plant’s tin ingot price is at about RMB136,000/t (USD18,013/t) delivered to buyers this week. “We find that the demand from consumers remains well, as they have to maintain normal production,” said the source. “Our tin ingot output is mainly supplied to buyers with long-term relationship.”
The source said that with the lead-free solder output increasing, the tin ingot consumption will increase further in the future. Meanwhile, most Chinese tin producers, except Yunnan Tin, have the troubles in the shortage of raw materials, leading to the growth of tin ingot production slowing down. Therefore, tin ingot market will remain firm in the near future. “The price may reach RMB140,000/t (USD18,543/t) in the short term,” said the producer.
The plant holds about 40t of stocks now.
A trader in Guangdong said that although the trading of tin ingot is not very active, the sentiment in the market remains strong, due to the tight supply in the market.
The trader quoted RMB136,500/t (USD18,079/t) for tin ingot 99.9%min, with few deals concluded this week.
“Tin ingot price is likely to rise inertially to about RMB140,000-150,000/t (USD18,543-19,868/t) in the coming days, as sellers always expect higher prices in the bullish market,” said the trader. “The tight supply is the major supportive factor to the market.”
