SMM Tin Market Morning Review (2015-2-12)

Published: Feb 12, 2015 10:05

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LME tin overnight opened at USD 18,150/mt and then hovered between USD 17,445-18,200/mt.

SHANGHAI, Feb. 12 (SMM) – LME tin overnight opened at USD 18,150/mt and then hovered between USD 17,445-18,200/mt before ending RMB 550/mt at USD 17,675/mt on Wednesday. Trading volumes for three-month tin on the London Metal Exchange gained 98 lots to 339 lots, while positions shed 102 to 21,154. LME tin inventories increased 25 mt to 11,865 mt.

Base metals markets are expected to remain depressed against a strengthening US dollar. A series of economic indicators will be released on Thursday, including Germany’s final CPI for January, euro zone industrial output, US retail sales and initial jobless claims, as well as the Bank of England (BOE)’s inflation report. LME tin is expected to hover between USD 17,400-17,800/mt, while spot lead prices in China will fall to RMB 124,000-127,000/mt on Thursday.

LME tin prices spot tin prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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