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SMM Tin Market Morning Review (2014-10-9)
Oct 9,2014 09:03CST
price review forecast
LME tin opened at USD 20,323/mt on Wednesday.
SHANGHAI, Oct. 9 (SMM) – LME tin opened at USD 20,323/mt on Wednesday. The metal touched day’s high of USD 20,325/mt and day’s low of USD 20,135/mt before closing down USD 239/mt at USD 20,160/mt. Trading volumes were up 46 lots to 240 lots, with positions down 146 lots to 22,271 lots. Inventories dropped 140 mt to 9,130 mt. The US dollar fell after the minutes of the US Fed’s September policy meeting indicated that the Fed is in no rush to raise interest rates. Recent news from Indonesia was positive. But LME tin still closed down due to weak technical side.  
Despite a soft US dollar, LME tin is expected to test support at USD 20,000/mt on Thursday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 137,500-139,500/mt on weak demand. 
LME tin prices
Shanghai tin prices

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