SHANGHAI, Mar. 12 (SMM) – LME tin overnight started at USD 17,850/mt and then hovered between USD 17,390-17,850/mt before ending down USD 350/mt at USD 17,450/mt. Trading volumes for three-month tin on the London Metal Exchange gained 158 lots to 293 lots, while positions shed 87 to 20,897. LME tin inventories decreased 60 mt to 10,605 mt on Wednesday.
A series of Chinese economic indicators, published on Wednesday, remained dispiriting, while US benchmark crude prices continued to fall. LME tin is expected to find solid support at USD 17,000/mt and hover between USD 17,000-17,600/mt on Thursday. Spot lead in China should trade between RMB 122,000-126,000/mt.