SHANGHAI, Feb. 17 (SMM) – LME tin opened at USD 18,250/mt on Monday. The metal touched day’s high of USD 18,315/mt and day’s low of USD 18,025/mt before closing down USD 175/mt at USD 18,095/mt. Trading volumes were down 217 lots to 96 lots, with positions up 392 to 21,904. Inventories decreased 40 mt to 11,460 mt. Trading on the LME thinned in the absence of Chinese investors due to the holiday. Concerns over demand prospects in China weighed LME tin down.
LME tin should hover around USD 18,000/mt on Tuesday. In Shanghai spot tin market, trading should grind to a halt, with mainstream offers expected between RMB 124,500-127,500/mt.
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