SHANGHAI, Jul. 9 (SMM) – LME tin prices overnight opened at USD 19,139/mt, with the high end of the price range USD 19,450/mt, and finding support at USD 19,050/mt. Finally, LME tin prices closed at USD 19,050/mt, up USD 435/mt. Trading volumes decreased by 399 lots, to 502 lots, and total position increased by 447 lots, to 21,863 lots. Inventories fell by 125 mt, to 14,430 mt.
LME tin prices overnight moved steadily during Asian trading hours, and rebounded during European and US trading, finally closing at USD 19,435/mt, up USD 435/mt from the previous day.
LME tin prices will find support at USD 18,800/mt today, and spot prices in Shanghai should hover between RMB 137,000-138,500/mt.