SHANGHAI, Mar. 6 (SMM) – LME tin overnight started at USD 17,900/mt and then fluctuated between USD 17,825-18,240/mt before closing up USD 310/mt at USD 18,150/mt. Trading volumes for three-month tin on the London Metal Exchange gained 95 lots to 245 lots, while positions increased 171 to 21,006. LME tin inventories shed 165 mt to 10,655 mt on Thursday.
US nonfarm payrolls due for release on Friday are expected to push the US dollar index higher and in turn exert some downward pressure on LME tin. LME tin is set to hover between USD 18,000-18,240/mt, while spot tin in China should trade between RMB 123,000-127,000/mt on Friday.