SHANGHAI, Apr. 8 (SMM) – LME tin opened at USD 23,101/mt on Monday. The metal ranged between day’s high of USD 23,201/mt and day’s low of USD 23,001/mt before ending USD 52/mt higher at USD 23,200/mt. Trading volumes contracted 26 lots to 181 lots, and positions were also down 183 lots to 22,305 lots. Inventories dropped 150 mt to 9,495 mt.
Macro front will be quiet today. LME tin should meet resistance at USD 23,400/mt and test support at USD 23,000/mt on Tuesday. In Shanghai physical tin market, prices are expected between RMB 137,500-139,500/mt.