SMM Tin Market Morning Review (2015-4-28)

Published: Apr 28, 2015 09:50
–LME tin opened at USD 15,825/mt on Monday.
SHANGHAI, Apr. 28 (SMM) –LME tin opened at USD 15,825/mt on Monday. The metal touched day’s high of USD 16,250/mt and day’s low of USD 15,820/mt before closing up USD 440/mt at USD 16,190/mt. Trading volumes were up 147 lots to 335 lots, and positions were down 179 to 20,275. Inventories were down 5 mt to 9,370 mt. The price rise was driven mainly by exit of bears, and partly due to a softer US dollar. S&P/CS20 home price index for February and the Conference Board’s consumer confidence index for April will be eyed today. A softer US dollar will allow LME tin to remain strong between USD 16,000-16,400/mt on Tuesday.
 
SHFE 1507 tin contract rose sharply on Monday, and should move between RMB 115,000-117,000/mt on Tuesday.
 
In domestic spot market, cargo holders will withhold goods, while downstream buyers will be active in the market. Mainstream traded prices are expected between RMB 113,000-116,000/mt. 
    
 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"
15 hours ago
"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"
Read More
"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"
"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"
Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan
15 hours ago
"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...
15 hours ago
"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...
Read More
"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...
"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.
15 hours ago
Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions
15 hours ago
Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions
Read More
Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions
Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions
After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."
15 hours ago