SHANGHAI, Mar. 30 (SMM) – LME tin opened at USD 17,160/mt last Friday. The metal touched day’s high of USD 17,350/mt and day’s low of USD 17,160/mt before closing up USD 185/mt at USD 17,350/mt. Trading volumes decreased 81 lots to 146 lots, with positions up 117 to 20,012. Inventories dropped 10 mt to 9,965 mt. LME tin should move between USD 17,000-17,500/mt on Monday.  

 

Tin contract dived to RMB 115,150/mt after opening at RMB 120,000/mt last Friday. The metal rebounded to RMB 120,010/mt later, but then fell again to RMB 192,200/mt due to selloffs. Finally, the contract closed at RMB 119,270/mt. Trading volumes and positions were 1,798 lots and 608, respectively. SHFE tin is expected to inch down on Monday due to weakness in LME and China’s spot markets.  

 

Tin prices in domestic spot markets are expected between RMB 119,000-122,000/mt on Monday.