SHANGHAI, Apr. 20 (SMM) –LME tin opened at USD 14,680/mt last Friday. The metal touched day’s high of USD 15,300/mt and day’s low of USD 13,600/mt before closing up USD 430/mt at USD 15,230/mt. Trading volumes rose by 242 lots to 1,295 lots, with positions up 867 to 20,162. Inventories fell by 25 mt to 9,655 mt. LME tin should test support at USD 14,000/mt on Monday.
SHFE 1507 tin contract should have little room to fall today, with prices expected between RMB 110,500-113,000/mt.
In domestic spot market, supply of cheap goods will tighten. Trading activity is expected to pick up as market sentiment is improving. Mainstream traded prices are expected between RMB 110,500-114,000/mt on Monday.