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SMM Tin Market Morning Review (2014-10-22)
Oct 22,2014 09:13CST
price review forecast
Source:SMM
LME tin opened at USD 19,419/mt on Tuesday.
SHANGHAI, Oct. 22 (SMM) – LME tin opened at USD 19,419/mt on Tuesday. The metal touched day’s high of USD 19,497/mt and day’s low of USD 19,355/mt before closing up USD 45/mt at USD 19,495/mt. Trading volumes were down 56 lots to 142 lots, with positions down 133 lots to 22,467 lots. Inventories were unchanged 9,155 mt. China’s GDP grew 7.3% in Q3. The figure, though undershooting the full year target, did beat expectations.
 
China’s CPI for September, due to be released today, is expected to rise from previous level. LME tin should test support at USD 19,000/mt on Wednesday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 135,000-138,000/mt. 
 
 
LME tin prices
Shanghai tin prices

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