SMM Tin Market Morning Review (2014-8-20)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Inventory data
  • Copper scrap
  • Nickel
  • Copper
  • Aluminium
  • Stainless steel
  • Macroeconomics
  • Evening comments
  • Production data
  • Tin
  • Market commentary
  • inventory

SMM Tin Market Morning Review (2014-8-20)

Price Review & Forecast 09:14:52AM Aug 20, 2014 Source:SMM
SHANGHAI, Aug. 20 (SMM) – LME tin opened at USD 22,400/mt on Tuesday. The metal touched day’s high of USD 22,450/mt and day’s low of USD 22,375/mt before closing up USD 24/mt at USD 22,400/mt. Trading volumes were down 24 lots to 109 lots, with positions also down 598 lots to 22,852 lots. Inventories increased 210 mt to 12,910 mt.  
 
Caution before the release of the minutes of the US Fed’s latest policy meeting and a strong US dollar will pressure LME tin prices, which will test support at USD 22,300/mt on Wednesday. In Shanghai physical tin market, mainstream traded prices are expected to hold stable between RMB 140,500-142,000/mt. 
 
 
 
 
 
 
 

Price

more
Aluminum Ingot
Aug.23
14310.0
-50.0
(-0.35%)
Aluminum Ingot - Fo Shan
Aug.23
14320.0
-40.0
(-0.28%)
Aluminum Ingot - Wu Xi
Aug.23
14310.0
-60.0
(-0.42%)
Aluminum Ingot - Hang Zhou
Aug.23
14325.0
-60.0
(-0.42%)
Aluminum Ingot - Chong Qing
Aug.23
14340.0
-40.0
(-0.28%)

SMM Tin Market Morning Review (2014-8-20)

Price Review & Forecast 09:14:52AM Aug 20, 2014 Source:SMM
SHANGHAI, Aug. 20 (SMM) – LME tin opened at USD 22,400/mt on Tuesday. The metal touched day’s high of USD 22,450/mt and day’s low of USD 22,375/mt before closing up USD 24/mt at USD 22,400/mt. Trading volumes were down 24 lots to 109 lots, with positions also down 598 lots to 22,852 lots. Inventories increased 210 mt to 12,910 mt.  
 
Caution before the release of the minutes of the US Fed’s latest policy meeting and a strong US dollar will pressure LME tin prices, which will test support at USD 22,300/mt on Wednesday. In Shanghai physical tin market, mainstream traded prices are expected to hold stable between RMB 140,500-142,000/mt.