SMM Tin Market Morning Review (2015-1-9)

SHANGHAI, Jan. 9 (SMM) – LME tin opened at USD 19,700/mt on Thursday. The metal touched day’s high of USD 19,799/mt and day’s low of USD 19,600/mt before closing flat at USD 19,750/mt. Trading volumes were down 68 lots to 158 lots, with positions up 139 to 21,854. Inventories increased 45 mt to 12,165 mt. The US dollar index hit 9-year high. Depressed euro zone economic data sent the euro zone down. Both factors prevented LME tin prices from rising.    

 

China’s inflation data for December will be eyed today. LME tin should fluctuate between USD 19,300-19,800/mt on Friday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 127,000-130,500/mt.