SHANGHAI, Jul. 4 (SMM) – LME tin prices overnight opened at USD 20,150/mt, with the high end of the price range USD 20,190/mt, and finding support at USD 19,975/mt. Finally, LME tin prices closed at USD 20,071/mt, up USD 65/mt. Trading volumes decreased by 405 lots, to 160 lots, and total position increased by 402 lots, to 21,460 lots. Inventories fell by 5 mt, to 14,235 mt.
European stocks markets slid due to Portugal political chaos. US June employment in the private sector increased by 188,000, and the number of initial jobless claims last week decreased.
LME tin prices will continue to fluctuate today, and spot prices in Shanghai should hover between RMB 138,500-140,500/mt.