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

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

Price Review & Forecast 09:20:04AM Aug 07, 2014 Source:SMM
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.  
 
 
 

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

Price Review & Forecast 09:20:04AM Aug 07, 2014 Source:SMM
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.