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SMM Tin Market Morning Review (2014-6-16)
Jun 16,2014 09:13CST
price review forecast
Source:SMM
LME tin opened at USD 22,585/mt last Friday.

SHANGHAI, Jun. 16 (SMM) – LME tin opened at USD 22,585/mt last Friday. The metal touched day’s high USD 22,679/mt and day’s low of USD 22,461/mt before closing at USD 22,580/mt, up USD 105/mt. China’s retail sales and industrial production data for May matched market forecasts, helping alleviate negative impact from metal financing fraud at the Port of Qingdao. Trading volumes contracted 246 lots to 333 lots, with positions up 321 lots to 22,336 lots. Inventories grew 60 mt to 10,900 mt.     

LME tin should test support at USD 22,500/mt on Monday. In Shanghai physical tin market, mainstream traded prices are expected between RMB 138,000-140,000/mt. 
 
 
 
LME tin prices
Shanghai tin prices

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