SHANGHAI, Apr. 15 (SMM) – LME tin touched a session high of USD 23,499/mt after opening at USD 23,400/mt on Monday. The metal, however, gave back gains afterwards to close at an intraday low of USD 23,345/mt. Trading volumes were off 484 lots from the previous day to 147 lots, but positions were up 730 lots to 23,177 lots. Inventories grew 30 mt to 9,460 mt.
LME tin should meet resistance at USD 23,600/mt and find support at USD 23,000/mt on Tuesday. In Shanghai physical tin market, prices are expected between RMB 140,000-141,000/mt.