SHANGHAI, Dec. 24 (SMM) – Trading activity on LME tin market was thin ahead of the Christmas holiday, leaving LME tin moving sideways near the 5-day and 60-day moving averages on Monday. The metal slipped to USD 22,830/mt after opening at USD 22,950/mt, but did rebound to close the day flat at USD 22,949/mt. Trading volumes contracted 168 lots to 122 lots, and positions also shrank 112 lots to 19,716 lots. LME tin inventories dropped 25 mt to 10,210 mt.
LME tin market will become even quieter due to the upcoming holiday. LME tin is expected to move in a tight range on Tuesday, meeting resistance at USD 23,000/mt. Spot tin prices in China should fluctuate between RMB 140,000-142,500/mt.