SMM Morning Review - 2012/5/10 Tin Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/10 Tin Market

SMM Insight 09:32:52AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – LME metals overnight were weighed down by the unrest Greek political chaos and climbing Italian bond yields. As such, LME tin prices opened at USD 21,400/mt in electronic trading and fell for the sixth trading day to close at USD 20,750/mt, down USD 700/mt from the previous trading day, with the highest price at USD 21,400/mt, and lowest price at USD 20,600/mt. Daily trading volumes were 498 lots, up 99 lots, and positions were down 364 lots to 19,074 lots. LME tin inventories were down 105 mt to 14,490 mt.

On Thursday, domestic tin prices may follow a weak trend influenced by the dropping LME tin prices and are expected to be between RMB 160,000-163,000/mt.

Key Words:  tin price   LME tin  

SMM Morning Review - 2012/5/10 Tin Market

SMM Insight 09:32:52AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – LME metals overnight were weighed down by the unrest Greek political chaos and climbing Italian bond yields. As such, LME tin prices opened at USD 21,400/mt in electronic trading and fell for the sixth trading day to close at USD 20,750/mt, down USD 700/mt from the previous trading day, with the highest price at USD 21,400/mt, and lowest price at USD 20,600/mt. Daily trading volumes were 498 lots, up 99 lots, and positions were down 364 lots to 19,074 lots. LME tin inventories were down 105 mt to 14,490 mt.

On Thursday, domestic tin prices may follow a weak trend influenced by the dropping LME tin prices and are expected to be between RMB 160,000-163,000/mt.

Key Words:  tin price   LME tin