SMM Tin Market Morning Review (2015-5-27)

May 27, 2015 10:39

LME tin dropped by USD 380/mt on Tuesday and lost support at USD 15,600/mt, due to entry of shorts.

SHANGHAI, May 27 (SMM) –LME tin dropped by USD 380/mt on Tuesday and lost support at USD 15,600/mt, due to entry of shorts. The US dollar index rose 1% as positive US economic data reinforced fears of interest rate hike. The US dollar will remain firm in the near term, which will leave LME tin testing support at USD 15,000/mt on Wednesday.

SHFE 1507 tin contract is expected to move between RMB 115,500-118,000/mt on Wednesday.

In domestic spot market, trading will be thin, with mainstream traded prices expected between RMB 116,000-118,000/mt.

LME tin prices

Shanghai tin prices

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SMM Tin Market Morning Review (2015-5-27)

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