SMM Tin Market Morning Review (2015-1-30)

SHANGHAI, Jan. 30 (SMM) – LME tin opened at USD 19,290/mt on Thursday. The metal touched day’s high of USD 19,300/mt and day’s low of USD 19,105/mt before closing down USD 30/mt at USD 19,265/mt. Trading volumes were down 77 lots to 326 lots, with positions up 37 to 20,284. Inventories fell 5 mt to 11,860 mt. LME tin fell at first, but then recovered some losses, tracking crude oil.

 

Today will see the release of a series of economic data, including Germany’s real retail sales, jobless rate and inflation in the euro zone, preliminary US Q4 GDP, PMI from Chicago, the University of Michigan’s consumer confidence index. LME tin should continue to test support at USD 19,000/mt on Friday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 126,500-129,000/mt.