SHANGHAI, Oct. 29 (SMM) – LME tin opened at USD 19,599/mt on Tuesday. The metal touched day’s high of USD 19,900/mt and day’s low of USD 19,500/mt before closing up USD 255/mt at USD 19,840/mt. Trading volumes were up 225 lots to 388 lots, with positions down 129 lots to 22,255 lots. Inventories increased 35 mt to 9,140 mt.
The US Fed’s policy decision will bear close watching today. LME tin prices should meet resistance at USD 20,000/mt on Wednesday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 135,000-138,000/mt.