SHANGHAI, Oct. 16 (SMM) – LME tin opened at USD 19,829/mt on Wednesday. The metal touched day’s high of USD 19,866/mt and day’s low of USD 19,500/mt before closing down USD 150/mt at USD 19,500/mt. Trading volumes were down 69 lots to 536 lots, with positions up 263 lots to 21,754 lots. Inventories increased 95 mt to 9,155 mt. Downbeat economic data fueled concerns over global economic growth, sending LME tin prices to a 15-month low. 

 

Declines in LME tin prices are expected to slow down on Thursday, with prices testing support at USD 19,000/mt. In Shanghai spot tin market, prices may follow LME tin down further to RMB 136,000-138,500/mt