SHANGHAI, May 18 (SMM) –LME tin opened at USD 15,815/mt last Friday. The metal touched day’s high of USD 15,950/mt and day’s low of USD 15,710/mt before closing up USD 85/mt at USD 15,840/mt. Trading volumes were down 100 lots to 122 lots, and positions were up 213 to 19,576. Inventories grew 20 mt to 8,565 mt. LME tin should move between USD 15,600-16,000/mt on Monday amid a relatively quiet macro front.
SHFE 1507 tin contract is expected to move between RMB 118,500-120,500/mt.
In domestic spot market, trading will remain light, and mainstream traded prices are expected to fall slightly to RMB 117,500-120,000/mt.