SHANGHAI, Dec. 21 (SMM) -- LME tin prices opened at USD 26,150/mt and ended at USD 26,150/mt overnight, up by USD 50/mt from a day earlier, with the highest price at USD 26,250/mt and the lowest price at USD 25,950/mt. Daily trading volumes were 136 lots and positions were 19,745 lots. LME tin inventories were 15,275 mt, down by 545 mt. Cancelled warrants were 550 mt, accounting for 3.60% of total inventories. LME base metal prices were ended mixed on Monday, and LME tin prices closed with slight gains.
Commodity prices once plunged in early trading hours on December 20th due to tensions on Korea Peninsular, but later shaved previous losses. The US dollar index closed with slight gains, but failing to exert significant impact on base metal prices.
Market focuses tensions on Korea Peninsular, and the US dollar will remain strong in the short term as European debt crisis still lingers, capping base metal price rally.
SMM believes that LME tin prices will continue to test USD 26,000/mt on December 21st.
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