SHANGHAI, Jun. 15 (SMM) – LME tin prices started at USD 15,195/mt last Friday and fell to USD 14,680/mt before ending at USD 14,900/mt, down USD 25/mt. Trading volumes were 272 lots and positions grew 151 to 19,637. LME tin inventories dropped 25 mt to 7,370 mt.
LME tin regained some losses after falling to USD 14,680/mt due mainly to shorts booking profits. This week, the euro zone CPI will be released and the Fed’s June interest rate meeting will be held. Markets expect the results from the meeting to be hawkish given recent upbeat data. Thus, base metals will still be pressured by the strong dollar. LME tin prices may fluctuate at USD 14,800-15,000/mt on Monday.
SHFE tin lost RMB 160/mt last Friday to end at RMB 113,540/mt. Trading volumes fell by 2,478 lots to only 674 lots, and positions were also down 80 to 3934.
SHFE tin prices are expected to move at RMB 112,500-114,500/mt, and spot tin prices in Chinese market may be RMB113,000-115,000/mt.