SMM Tin Market Morning Review (2013-12-9)-Shanghai Metals Market

Hot Keywords

  • Market commentary
  • Rare earth
  • Aluminium
  • Macroeconomics
  • Copper
  • Zinc
  • Sales data
  • Customs data
  • MMi Iron Ore Port Index
  • Inventory data
  • precious metals
  • Rare earths
  • Nickel
  • Iron ore
  • Futures movement

SMM Tin Market Morning Review (2013-12-9)

Price Review & Forecast 09:37:35AM Dec 09, 2013 Source:SMM

SHANGHAI, Dec. 9 (SMM) – LME tin jumped to USD 23,250/mt during the Asian trading session after opening at USD 22,951/mt last Friday, but fell back to USD 22,912/mt in the European trading hours as improving US labor market raised concerns over QE3-tapering. 203,000 jobs were added in the US non-farm sector in November, better than expected. However, the metal staged a rally afterwards before ending USD 209/mt higher at USD 23,160/mt. Trading volumes were flat 757 lots, while positions added 565 lots to 19,591 lots. LME tin inventories dropped 20 mt to 10,550 mt.

LME tin will have limited upward momentum following continuous rises, meeting resistance at USD 23,300/mt and consolidating support at the 60-day moving average on Monday. Spot tin prices in China are expected between RMB 140,000-143,500/mt.

Key Words:  LME tin   China tin  

Price

more
Aluminum Ingot
Sep.20
14280.0
10.0
(0.07%)
Aluminum Ingot - Fo Shan
Sep.20
14320.0
20.0
(0.14%)
Aluminum Ingot - Wu Xi
Sep.20
14280.0
15.0
(0.11%)
Aluminum Ingot - Hang Zhou
Sep.20
14305.0
15.0
(0.10%)
Aluminum Ingot - Chong Qing
Sep.20
14310.0
10.0
(0.07%)

SMM Tin Market Morning Review (2013-12-9)

Price Review & Forecast 09:37:35AM Dec 09, 2013 Source:SMM

SHANGHAI, Dec. 9 (SMM) – LME tin jumped to USD 23,250/mt during the Asian trading session after opening at USD 22,951/mt last Friday, but fell back to USD 22,912/mt in the European trading hours as improving US labor market raised concerns over QE3-tapering. 203,000 jobs were added in the US non-farm sector in November, better than expected. However, the metal staged a rally afterwards before ending USD 209/mt higher at USD 23,160/mt. Trading volumes were flat 757 lots, while positions added 565 lots to 19,591 lots. LME tin inventories dropped 20 mt to 10,550 mt.

LME tin will have limited upward momentum following continuous rises, meeting resistance at USD 23,300/mt and consolidating support at the 60-day moving average on Monday. Spot tin prices in China are expected between RMB 140,000-143,500/mt.

Key Words:  LME tin   China tin