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SMM Morning Review - 2011/12/26 Tin Market
Dec 26,2011 09:31CST
smm insight
Source:SMM
In domestic tin spot market, LME tin price will fluctuate narrowly due to absence of LME tin price guidance, and will move in the RMB 157,500-160,000/mt on Monday.

SHANGHAI, Dec. 26 (SMM) -- LME tin for delivery in three months opened at USD 19,300/mt and closed at USD 19,300/mt last Friday, up by USD 50/mt from a day earlier, with the highest price at USD 19,450/mt and the lowest price at USD 19,150 mt. Daily trading volumes were 190 lots, up by 44 lots. Positions were 15,472 lots, down by 312 lots from a day earlier. LME tin inventories were down by 125 mt to 11,835 mt.

Prices fluctuated narrowly and trading volumes were thin in LME tin market last Friday, with the approaching of Christmas holiday. Growth in global equity market supported base metal prices to certain extent. LME tin prices closed at USD 19,300/mt, up USD 50/mt from a day earlier, with prices hitting a high of USD 19,150/mt and touching a low of USD 19,150/mt.

Trading sentient was quiet ahead Christmas holiday, but the US equity market rallied last Friday from growing risk appetite following announcement of better-than-expected economic data. The US index fluctuated narrowly last Friday. LME base metal prices ended mixed. LME copper prices were relatively stronger on upbeat economic data, but still reported thin trading volumes amid pre-holiday atmosphere.

LME tin prices will be closed on Monday. In domestic tin spot market, LME tin price will fluctuate narrowly due to absence of LME tin price guidance, and will move in the RMB 157,500-160,000/mt on Monday. 
 

tin; tin price; LME tin price; spot tin price; European debt crisis; US dollar; euro; Dec. 26; in the Shanghai tin spot market;

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