SHANGHAI, Aug. 1 (SMM) – LME tin opened at USD 22,800/mt on Thursday. The metal touched day’s high of USD 22,900/mt and day’s low of USD 22,605/mt before closing up USD 19/mt at USD 22,794/mt. Trading volumes increased 96 lots to 493 lots, with positions also up 309 lots to 22,615 lots.
US non-farm payrolls will come under the spotlight today. LME tin should move sideways on Friday, with resistance at USD 22,800/mt. In Shanghai physical tin market, sellers will simply hold back goods at lows, while buyers will refuse to buy at higher prices. Mainstream traded prices are expected between RMB 141,000-142,500/mt.