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LME base metals extended their increases and closed higher overnight. Market is attentive to the actions of ECB after signal of stimulating growth were sent from the EU summit. May PPI data released by Eurostat indicated continuous decline in inflation and offered room for ECB to further lower interest rate. ECB will release its decision on interest rate Thursday night (GMT+8). Most market players expect ECB will cut interest rate by 25 basis points. Market expectations drove base metals to rise.
On Wednesday, spot tin prices in China should be between RMB 147,000-148,500/mt.
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