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SMM Tin Market Morning Review (2014-3-14)
Mar 14,2014 09:27CST
price review forecast
Source:SMM
China’s industrial value-added at above-scale enterprises during the first two months of 2014, urban fixed investment and retail sales all undershoot forecasts.

SHANGHAI, Mar. 14 (SMM) – China’s industrial value-added at above-scale enterprises during the first two months of 2014, urban fixed investment and retail sales all undershoot forecasts, fueling concerns over demand in the world’s top metal consumer. This weighted tin prices down. LME tin opened Thursday at USD 22,950/mt. The metal found days’ low of USD 22,550/mt and day’s high of USD 22,969/mt before finishing USD 10/mt lower at USD 22,910/mt. Trading volumes shrank 205 lots from a day earlier to 188 lots, and positions also decreased 2 lots to 22,597 lots. Inventories grew 15 mt to 9,050 mt.   

All eyes will be on US PPI data and the University of Michigan Consumer Sentiment Index today. Worries over demand from China will leave LME tin moving at current lows on Friday, seeking support at USD 22,500/mt while meeting resistance at USD 23,200/mt. Spot tin prices in Shanghai are expected between RMB 138,500-141,500/mt.

 

LME tin prices
Shanghai tin prices

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