SMM Tin Market Morning Review (2015-3-16)

SHANGHAI, Mar. 16 (SMM) – LME tin opened at USD 17,300/mt last Friday. The metal touched day’s high of USD 17,475/mt and day’s low of USD 17,300/mt before closing up USD 80/mt at USD 17,370/mt. Trading volumes were down 98 lots to 237 lots, with positions up 47 to 21,039. Inventories decreased 55 to 10,560 mt. The US dollar index hit 12-year high of 100.40. The Greece debt crisis remains unsolved. Crude oil slumped. These negative factors curbed gains of LME tin.   

 

Negative technical side and a firm US dollar should send LME tin down to USD 17,200-17,600/mt on Monday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 121,500-125,500/mt.