SHANGHAI, Aug. 12 (SMM) – LME tin opened at USD 22,375/mt on Monday. The metal touched day’s high of USD 22,420/mt and day’s low of USD 22,230/mt before closing up USD 25/mt at USD 22,400/mt. Relatively quiet macro front kept tin prices moving in tight ranges. Trading volumes were up 87 lots to 184 lots, with positions down 107 lots to 23,096 lots. 

 

Growing risk aversion amid an escalation of geopolitical tensions will expose LME tin to downward correction, with prices testing support at USD 22,300/mt on Tuesday. In Shanghai physical tin market, mainstream traded prices are expected to hold stable between RMB 139,500-141,500/mt.