SMM Tin Market Morning Review (2015-3-11)

Published: Mar 11, 2015 09:38

Save

LME tin should continue to test support at USD 17,600/mt and hover between USD 17,600-17,970/mt, while spot tin prices in China should hold flat between RMB 122,500-126,500/mt.

SHANGHAI, Mar. 11 (SMM) – LME tin overnight started at USD 18,125/mt and then moved between USD 17,780-18,125/mt before ending down USD 325/mt at USD 17,800/mt on Tuesday. Trading volumes for three-month tin on the London Metal Exchange decreased 40 lots to 135 lots, while positions gained 239 to 20,984. LME tin inventories added 65 mt to 10,675 mt.

On Wednesday, LME tin should continue to test support at USD 17,600/mt and hover between USD 17,600-17,970/mt, while spot tin prices in China should hold flat between RMB 122,500-126,500/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 for 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

4 hours ago

Bank of Canada Holds Rates but Signals Possible Hikes if Inflation Persists

The Bank of Canada chose to hold steady earlier this month, but Governor Macklem immediately warned that if inflation remains persistently high, the central bank does not rule out multiple consecutive rate hikes. The Riksbank currently belongs to the dovish camp and is expected to keep its key policy rate unchanged at 1.75% at its meeting later this month, though the market currently also expects its rate to rise later this year.

4 hours ago

US Treasury Yields Surge to 16-Year Highs Ahead of Fed Rate Decision

As the US Fed is about to announce its interest rate decision, the sell-off in US Treasuries has intensified, with the benchmark 10-year Treasury yield climbing to its highest level since 2007. The 30-year Treasury yield, which is more sensitive to geopolitical risks, also continued to rise, reaching as high as 5.40% during the session, a new high since June 2007; the 2-year Treasury yield rose about 4 basis points to 4.68%.

4 hours ago

Trump Administration Poised to Approve Deep-Sea Mining Permits for Critical Minerals

The Trump administration has signaled it is about to approve deep-sea mining permits, part of a broader effort to expand US access to critical minerals that are widely used across many sectors of the US economy.Interior Secretary Doug Burgum said at the G20 energy ministers' meeting in Houston that permits could be issued within months, as the administration pursues an "energy growth" strategy to expand supply chains for the US and its allies.

4 hours ago