SMM Tin Market Morning Review (2015-3-24)

SHANGHAI, Mar. 24 (SMM) – LME tin opened at USD 17,245/mt on Monday. The metal touched day’s high of USD 17,645/mt and day’s low of USD 17,245/mt before closing up USD 480/mt at USD 17,600/mt. Trading volumes decreased 55 lots to 249 lots, and positions down 518 to 20,039. Inventories were unchanged at 10,175 mt. US existing home sales undershot forecasts last month, softening the US dollar. Base metals and crude oil thus gained. The technical side has shown positive signs, and LME tin should range USD 17,400-17,800/mt on Tuesday.  

 

Sentiment in Shanghai spot market improved on Monday. Processors and traders preferred to stockpile goods from Yunnan. Mainstream traded prices are expected between RMB 118,500-122,500/mt on Tuesday.