SHANGHAI, Jun. 13 (SMM) – LME tin opened at USD 22,660/mt on Thursday. The metal touched day’s high USD 22,823/mt and day’s low of USD 22,475/mt before closing at USD 22,475/mt, down USD 280/mt. Higher-than-expected initial jobless claims in the US last week soured market sentiment and drove tin prices down. Trading volumes gained 55 lots to 579 lots, with positions down 103 lots to 22,015 lots. Inventories grew 135 mt to 10,840 mt.
LME tin should fall further to USD 22,000-22,200/mt on Friday. In Shanghai physical tin market, mainstream traded prices are expected to track LME tin down to RMB 138,000-139,500/mt.