Tin market remains firm

Tin market still keeps firm and some market participants still hold optimistic attitudes towards the prospect of the market in the coming months though the trading is not very active.

A major trader in Taiwan said that the tin supply is tightening in the Taiwan spot market, as demand keeps strong while the tin ingot supply from Indonesia is limited

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he source said that they concluded deals at about USD17,000/t delivered to buyers. "Although the current tin price has reached record high levels, buyers have accepted it now, as they worry that the price may rise further in the future," said the source. "In addition, some consumers in mainland China also began to import the metal, as tin prices in Chinese spot market were much higher than that in the overseas market."

868278BOQ1141PX1JP2J0OM25HH56OSGYR9XHUS445XJ4O8NIW2I15YL09FIJOULJF4E47N91NPZC666U7T00QS4QH28477545O3QB7KDG4NF9IS050SA1AK55641JUS3U6Q9WT0NC8GBYI0G3LRG2E7ZZ54RSFF4I8I6L6AQ1Z4WTU87QB1B33N28J9IAHIYI4QC06S 9BA270Y1M94WN8T10IB559GU47GF2RQ45BX8D23XQD080490D397CZL1VB0H6BYM6C26HCXXV46C8692VMJ14697350T4229L4KWKT9I2FN8FV0ZH06F9I1B2NJ89KQ01IL77M8N2NX33CK5WIB0T12F8F3V2W5A107Q6NRRY6185U307479EN442Y3X8W015TM6E1T0 The source said that PT Timah, the largest tin producer in Indonesia, raised production forecast from 55,000t to 60,000t in 2008 for the bullish tin market. However, the tin production in Indonesia declines, as many illegal mines were shut down late 2006. Meanwhile, with the fast growth of electronic industry, the demand for tin ingot will keep strong in China and India. Therefore, the source still holds optimistic attitudes towards the outlook of the market, believing that tin price may continue to rise in the overseas market. He added that as Chinese tin price has been already at high levels, Chinese tin market may take a chief break for a while.

Y5EISH8U2SUH9B52TB8T14Z232GVW757E4XVZ794V7EIPH9QZ7P104XT6D9HXP159911BK2VLMRF5THXV1ZJVSHE1UU6477343F3EKF23DND16SH552SV53S0M12RM539W39P09A89ZKQGM9L2R4FCI664GF90WVU7R95Q72FE2F2VX37JN8HSM320HXJ6900257H38I A trader in Shanghai reported that the prevailing prices of tin ingot firm at about RMB148,000-149,000/t (USD19,919-20,054/t) this Wednesday, but the demand from consumers is not active

ZZ3J75741N0R3HJGLU69RVSUFUF4M84Y889VVHNY0J381101V1HNZ8K4K2TG1CH5G80OV7670L7IIU6OWW5N2T55VB5N4216M209YCK2M0O4E4JOW18G77MJ8MYOLNK67KD036B5530LYKOMB1H8SA3EN7BQ511PLLP24TU9NRJ5X8457GG7KXOFHE2984TW665UJM9Q 11W7R881OQWK1J76SHDQO7KGCIY1XV7BMG8P57Y4UVR109JG2B4C307HKE3BNU8VWRAT84A263FI9JO201Z07E18MKP527616O55VE26OJ720X4BK8C7XNUGR39W3W2K1EU27EZ06G4B673UNMYN0F06FEP29M07L8X0UR35E160015TQ1855PDI2FWZNU148612296M The source said, "Some producers, especially Yunnan Tin, still forecast the price would rise in the future, so I have to hold optimistic attitudes towards the market, though the current demand is still slack."

The trader holds about 10t of tin ingot stocks on hand.