SHANGHAI, Dec. 27 (SMM) -- LME tin prices opened at USD 26,700/mt last Friday and closed at USD 26,800/mt, unchanged from a day earlier, with the highest price at USD 26,800/mt and the lowest price at USD 26,650/mt. Daily trading volumes were 78 lots and positions were 20,240 lots. LME tin inventories were 15,610 mt, up by 85 mt. Cancelled warrants were 615 mt, accounting for 3.94% of total trading volumes. LME base metal prices closed at record high amid thin trading volumes last Friday, with prices fluctuating narrowly.
Market risk appetite is affected by many factors, such as European financial crisis, uncertainties of additional stimulus measures from the US, concern over China’s further monetary policy as well as launch of physically-backed ETFs. LME tin prices will continue be backed by global supply shortage.
LME market will be closed on December 27th.
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