SMM Tin Market Morning Review (2015-6-3)

Published: Jun 3, 2015 10:03

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LME tin opened at USD 15,485/mt on Tuesday.

SHANGHAI, Jun. 3 (SMM) –LME tin opened at USD 15,485/mt on Tuesday. The metal touched day’s high of USD 15,640/mt and day’s low of USD 15,415/mt before closing up USD 5/mt at USD 15,500/mt. Trading volumes were up 36 lots to 228 lots, and positions were up 97 to 19,325. Inventories were unchanged at 73,150 mt. The US dollar index fell to a week low on weak US economic data and US Fed official’s dovish remarks. US ADP employment report will bear close watching today. A weaker US dollar should push LME tin up slightly to USD 15,400-15,600/mt on Wednesday.

SHFE 1507 tin contract rose RMB 80/mt to RMB 116,600/mt during Tuesday’s night session, and is expected to rise further to RMB 116,000-118,000/mt on Wednesday.

In domestic spot market, suppliers will hold back goods at lows. Mainstream traded prices are expected between RMB 114,500-117,000/mt.

LME tin prices Shanghai tin prices

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.

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