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SMM Tin Market Morning Review (2013-12-30)
SHANGHAI, Dec. 30 (SMM) – LME tin opened at USD 23,000/mt last Friday. The metal moved lower to USD 22,700/mt before ending down USD 230/mt at USD 22,715/mt, drawing no support from a weaker greenback. Trading volumes contracted 202 lots to 301 lots, while positions were up 38 lots to 19,275 lots. LME tin inventories were unchanged at 10,005 mt.
LME tin should test support at USD 22,400/mt on Monday. Spot tin prices in Shanghai are expected between RMB 142,000-144,000/mt.
SMM Tin Market Morning Review (2013-12-30)
SHANGHAI, Dec. 30 (SMM) – LME tin opened at USD 23,000/mt last Friday. The metal moved lower to USD 22,700/mt before ending down USD 230/mt at USD 22,715/mt, drawing no support from a weaker greenback. Trading volumes contracted 202 lots to 301 lots, while positions were up 38 lots to 19,275 lots. LME tin inventories were unchanged at 10,005 mt.
LME tin should test support at USD 22,400/mt on Monday. Spot tin prices in Shanghai are expected between RMB 142,000-144,000/mt.
