SMM Tin Market Morning Review (2014-10-13)

SHANGHAI, Oct. 13 (SMM) – LME tin opened at USD 20,182/mt last Friday. The metal touched day’s high of USD 20,243/mt and day’s low of USD 19,961/mt before closing up USD 15/mt at USD 20,200/mt. Trading volumes were up 27 lots to 241 lots, with positions up 8 lots to 22,334 lots. Inventories decreased 20 mt to 9,205 mt. 

 

China’s trade data for September will be eyed today. LME tin should come under downward pressure, testing support at USD 20,000/mt on Monday. In Shanghai spot tin market, mainstream traded prices are expected to fall to RMB 137,000-139,500/mt as bearish sentiment dominates.