SHANGHAI, Jun. 30 (SMM) – LME tin opened at USD 22,455/mt last Friday. The metal touched day’s high USD 22,455/mt and day’s low of USD 22,232/mt before closing down USD 175/mt at USD 22,250/mt. Trading volumes gained 50 lots to 336 lots, with positions up 10 lots to 21,480 lots. Inventories grew 100 mt to 11,285 mt.
Investors will stay cautious before US non-farm payrolls for June are released later this week. LME tin should test support at USD 22,000/mt on Monday. In Shanghai physical tin market, mainstream traded prices are expected to follow LME tin down to RMB 137,500-140,000/mt.