SHANGHAI, Feb. 17 (SMM) – Last Friday, LME tin prices started at USD 22,600/mt last Friday, with lowest price at USD 23,082/mt and highest level at USD 22,587/mt. The prices finally closed at USD 22,998/mt, up USD 447/mt. Traded volumes were 637 lots, up 194 lots from last Thursday, and positions were up 83 lots to 19,334 lots. LME tin stocks dropped 35 mt to 8,805 mt.
LME tin prices remained stable early but then rallied to a high of USD 23,082/mt before closing up USD 447/mt or 1.8%, staging the biggest gain among all base metals and the highest closing price since December 20, 2013. Slipping tin exports from Indonesia in January rekindled concerns over tin supply from the country. Besides, the above-expected growth in Germany and France drove up the euro, helping bolster base metals prices.
On Monday, spot tin prices in China are expected at RMB 140,500-143,500/mt.