SHANGHAI, Mar. 18 (SMM) – Upbeat US economic data drove tin prices up on Monday. New York’s manufacturing activity improved mildly in March, and US industrial output in February expanded at its fastest pace since last August. LME tin opened Monday at USD 22,950/mt. The metal found days’ low of USD 22,801/mt and day’s high of USD 23,000/mt before finishing USD 26/mt higher at USD 22,951/mt. Trading volumes added 14 lots from a day earlier to 147 lots, while positions also increased 145 lots to 22,885 lots. Inventories grew 20 mt to 9,105 mt.
Investors will closely watch developments in the Ukraine crisis. LME tin should move sideways around USD 23,000/mt on Tuesday. Spot tin prices in Shanghai are expected between RMB 139,000-141,500/mt.