SHANGHAI, May 19 (SMM) –LME tin opened at USD 15,780/mt on Monday. The metal touched day’s high of USD 16,085/mt and day’s low of USD 15,750/mt before closing up USD 110/mt at USD 15,950/mt. Trading volumes were up 97 lots to 219 lots, and positions were down 151 to 19,425. Inventories fell 25 mt to 8,540 mt. Data on US housing starts and building permits for April will bear close watching today. LME tin should move between USD 15,600-16,200/mt on Tuesday.
SHFE 1507 tin contract is expected to move between RMB 118,500-120,000/mt.
In domestic spot market, supply of cheap goods will increase, while will send prices of goods from Yunnan down. Mainstream traded prices are expected between RMB 117,000-119,500/mt.