SMM Tin Market Morning Review (2014-4-14)

SHANGHAI, Apr. 14 (SMM) – LME tin touched an intraday high of USD 23,595/mt after opening at USD 23,375/mt last Friday. The metal, however, fell back to USD 23,300/mt afterwards before ending USD 80/mt lower at USD 23,325/mt. LME tin was dragged down by a firmer greenback, worries over China slowdown and growing tensions in the Ukraine crisis. Trading volumes gained 329 lots from the previous day to 631 lots, and positions were also up 100 lots to 22,447 lots. Inventories dropped 10 mt to 9,430 mt.                     

LME tin should struggle near USD 23,400/mt on Monday. In Shanghai physical tin market, the pullback in LME tin prices last Friday will dampen market sentiment, with prices expected between RMB 139,500-141,000/mt.