Home / Metal News / Aluminium / SMM Tin Market Morning Review (2014-3-4)
SMM Tin Market Morning Review (2014-3-4)
Mar 4,2014 09:32CST
price review forecast
Source:SMM
Better-than-expected US ISM manufacturing PMI in February was overshadowed by escalation in tensions in Ukraine and disappointing Chinese manufacturing PMI, sending tin prices down.

SHANGHAI, Mar. 4 (SMM) – Better-than-expected US ISM manufacturing PMI in February was overshadowed by escalation in tensions in Ukraine and disappointing Chinese manufacturing PMI, sending tin prices down. LME tin tumbled to USD 22,950/mt after opening Monday at USD 23,300/mt, and ended down USD 343/mt at USD 23,107/mt. Trading volumes were up 130 lots from a day earlier to 461 lots, and positions also increased 150 lots to 22,165 lots. Inventories grew 1,020 mt to 9,085 mt.        

Unrest in Ukraine and downbeat Chinese manufacturing data will continue to sour market sentiment. LME tin should test support at USD 22,800/mt on Tuesday. In Shanghai’s physical market, limited supply will keep prices firm between RMB 141,000-143,500/mt.
 

LME tin prices
Shanghai tin prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news