SHANGHAI, May 29 (SMM) –LME tin opened at USD 15,540/mt on Thursday. The metal touched day’s high of USD 15,645/mt and day’s low of USD 15,430/mt before closing down USD 65/mt at USD 15,440/mt. Trading volumes were down 171 lots to 127 lots, and positions were up 381 to 19,334. Inventories fell 10 mt to 7,620 mt. Caution will dominate before the release of US GDP. Poor technical side will leave LME tin weak between USD 15,300-15,600/mt on Friday.
SHFE 1507 tin contract is expected to move between RMB 116,000-118,000/mt on Friday.
In domestic spot market, trading activity will pick up. Mainstream traded prices are expected between RMB 115,000-117,500/mt.