SMM Tin Market Morning Review (2015-2-25)

Published: Feb 25, 2015 09:08

Save

LME tin is expected to stay around USD 18,000/mt on Wednesday, meeting resistance at USD 18,400/mt.

SHANGHAI, Feb. 25 (SMM) – LME tin started overnight at USD 17,975/mt and then fluctuated between USD 17,890-18,200/mt before ending up USD 120/mt at USD 18,055/mt. Trading volumes for three-month tin on the London Metal Exchange increased 82 lots to 171 lots, while positions shed 135 to 20,413. LME tin inventories held flat at 11,420 mt on Tuesday.

LME tin hovered largely around USD 18,000/mt during the Chinese New Year holiday. The US Federal Reserve chairwoman Janet Yellen hinted that the Fed won’t raise its interest rates until several months later. The euro zone finance ministers approved a four-month extension on Greece’s bailout plan, giving a boost to markets. Meanwhile, a rebound in crude prices helped support base metals markets. Brent oil rose above USD 59/bbl due to production suspension at the largest oilfield in Libya.

LME tin is expected to stay around USD 18,000/mt on Wednesday, meeting resistance at USD 18,400/mt. Spot tin prices in China should be unchanged between RMB 124,500-127,500/mt.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM Nickel Midday Review] Nickel Prices Rebound on February 4, Central Bank Conducts 800 Billion Yuan in Buyout-Style Reverse Repo Operations

1 hour ago

[SMM Nickel Intermediate Product Daily Review] February 4 MHP and High-Grade Nickel Matte Prices Decline

As of now, the FOB price of Indonesian MHP nickel is $15,544 per mt Ni, and the FOB price of Indonesian MHP cobalt is $49,254 per mt Co. The MHP payables (against the SMM battery-grade nickel sulphate index) were 84.5–85.5, and the MHP cobalt element payable indicator (against SMM refined cobalt (Rotterdam warehouse)) was 90.5. The FOB price of Indonesian high-grade nickel matte was $16,056 per mt Ni.

1 hour ago

2 hours ago

US House Passes Funding Bill, Trump Signs to End Partial Government Shutdown

The US House of Representatives voted to pass a funding bill for multiple federal government departments for the remainder of the fiscal year, resolving the partial government shutdown that began on January 31. US President Trump subsequently signed the bill.

2 hours ago