SHANGHAI, Oct. 24 (SMM) – LME tin opened at USD 19,579/mt on Thursday. The metal touched day’s high of USD 19,600/mt and day’s low of USD 19,375/mt before closing down USD 41/mt at USD 19,459/mt. Trading volumes were down 29 lots to 108 lots, with positions up 104 lots to 22,400 lots. Inventories were unchanged 9,155 mt.
LME tin should test support at USD 19,000/mt and meet resistance at USD 19,600/mt on Friday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 135,000-137,500/mt.