SHANGHAI, Jun. 1 (SMM) –LME tin opened at USD 15,595/mt last Friday. The metal touched day’s high of USD 15,600/mt and day’s low of USD 15,400/mt before closing up USD 100/mt at USD 15,540/mt. Trading volumes were up 14 lots to 141 lots, and positions were up 3 to 19,337. Inventories fell 50 mt to 7,570 mt. Today will see the release of manufacturing PMIs from China, euro zone and the US. The technical side is negative for LME tin, which is likely to remain weak between USD 15,300-15,600/mt on Monday.
SHFE 1507 tin contract is expected to move between RMB 115,000-117,500/mt on Monday.
In domestic spot market, trading will be modest. Cheap goods from Yunnan might gain more favor. Mainstream traded prices are expected between RMB 114,500-117,000/mt.