SHANGHAI, Mar. 5 (SMM) -- LME tin prices for delivery in three months opened at USD 24,000/mt and closed at USD 23,919/mt overnight, down USD 81/mt from a day earlier, with the highest price at USD 24,000/mt and the lowest price at USD 23,625/mt. Daily trading volumes were 172 lots, up 54 lots. Positions were 18,878 lots, down 184 lots. LME tin inventories were 11,035mt, up 420 mt from a day earlier.
LME tin prices managed to remain stable between USD 23,800-24,000/mt during Friday’s Asian and early European trading hours, but were weighed down due to negative economic data from the euro zone. LME tin prices fell below USD 23,800/mt and hit a low at USD 23,625/mt. Finally, LME tin prices closed at USD 23,919/mt, down USD 81/mt from a day earlier.
The market news front is comparatively quiet today. SMM expects that LME tin prices will continue to hover around USD 24,000/mt and domestic tin spot prices will move in the RMB 173,000-175,000/mt range on Monday.