SMM Tin Market Morning Review (2014-8-7)

Aug 7, 2014 09:20

LME tin moved lower after opening at USD 22,500/mt on Wednesday, and closed at an intraday low of USD 22,260/mt, down USD 145/mt.

SHANGHAI, Aug. 7 (SMM) – LME tin moved lower after opening at USD 22,500/mt on Wednesday, and closed at an intraday low of USD 22,260/mt, down USD 145/mt. Escalation of Russia-Ukraine tensions was largely blamed for the decline in LME tin prices.

Heightened geopolitical tensions are expected to send LME tin down further to test support at USD 22,000/mt on Thursday. In Shanghai physical tin market, mainstream traded prices are expected between RMB 140,000-142,000/mt.

LME tin prices

Shanghai tin prices

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SMM Tin Market Morning Review (2014-8-7)

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