SHANGHAI, Nov.17 (SMM) -- On Tuesday night, LME tin market opened at USD 25,500/mt and finished at USD 24,650/mt, down by USD 940mt from a day earlier, with the highest price at USD 25,750/mt and the lowest price at USD 24,500/mt. Daily trading volumes were 493 lots and positions were 18,260 lots. LME nickel inventories were down by 30 mt to 13,480 mt.

LME base metal closed lower overnight, with LME tin prices slipping by 3.67%, due to market concern that China will soon announce measures to curb inflation and cool its buoyant economy. Commodity market saw a broad-based selloff, and the US dollar climbed to a seven-month high versus the euro on debt concern in euro zone.

It is expected that LME base metal will experience rather sloppy conditions until investors get more visibility out of both Ireland and China. SMM believes that LME tin prices will move between USD 24,400-26,000/mt on November 17th.

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