SMM Tin Market Morning Review (2015-3-17)

Published: Mar 17, 2015 09:25

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LME tin opened at USD 17,335/mt on Monday.

SHANGHAI, Mar. 17 (SMM) – LME tin opened at USD 17,335/mt on Monday. The metal touched day’s high of USD 17,550/mt and day’s low of USD 17,335/mt before closing up USD 170/mt at USD 17,540/mt. Trading volumes were down 27 lots to 210 lots, with positions up 208 to 21,247. Inventories decreased 250 to 103,100 mt. Crude oil hit 6-year low, sending LME tin down. But LME tin rebounded later as the US dollar index fell below 100.

A softer US dollar should support LME tin between USD 17,400-17,800/mt on Tuesday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 120,500-124,500/mt.

LME tin prices Shanghai tin prices

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