SHANGHAI, Aug. 11 (SMM) – LME tin opened at USD 22,424/mt last Friday. The metal touched day’s high of USD 22,445/mt and day’s low of USD 22,267/mt before closing down USD 25/mt at USD 22,375/mt. Trading volumes were down 42 lots to 97 lots, with positions down 9 lots to 23,203 lots.
China registered double-digit growth in exports in July, helping lift its trade surplus to record high. However, escalating geopolitical tensions dampened market sentiment.
Positive Chinese economic data mixed with growing geopolitical tensions will keep LME tin in check within USD 22,300-22,800/mt on Monday. In Shanghai physical tin market, stable supply and demand should leave mainstream traded prices stable between RMB 139,500-141,500/mt.
