SMM Tin Market Morning Review (2013-12-24)-Shanghai Metals Market

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SMM Tin Market Morning Review (2013-12-24)

Price Review & Forecast 09:30:35AM Dec 24, 2013 Source:SMM

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.

Key Words:  LME tin   China tin  

Price

more
Aluminum Ingot
Oct.14
13800.0
-170.0
(-1.22%)
Aluminum Ingot - Fo Shan
Oct.14
13800.0
-170.0
(-1.22%)
Aluminum Ingot - Wu Xi
Oct.14
13790.0
-180.0
(-1.29%)
Aluminum Ingot - Hang Zhou
Oct.14
13810.0
-170.0
(-1.22%)
Aluminum Ingot - Chong Qing
Oct.14
13770.0
-200.0
(-1.43%)

SMM Tin Market Morning Review (2013-12-24)

Price Review & Forecast 09:30:35AM Dec 24, 2013 Source:SMM

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.

Key Words:  LME tin   China tin