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SMM Morning Review – 2012/3/5 Tin Market
Mar 5,2012 09:54CST
smm insight
Source:SMM
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.

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.
 

tin; tin price; LME tin price; spot tin price; European debt crisis; US dollar; euro; Mar. 5; in the Shanghai tin spot market;

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