SHANGHAI, Jun. 16 (SMM) – LME tin prices opened at USD 14,900/mt Monday and closed down USD 70/mt at USD 14,830/mt, with high end price at USD 14,945/mt and low end at USD 14,280/mt. Trading volumes were 287 lots and positions grew 492 to 20,129. LME tin inventories dropped 30 mt to 7,345 mt.

The US dollar index fell back after initial rises due to strong caution before the Fed’s interest rate meeting and modest economic data.

SHFE tin gapped lower at RMB 111,720/mt Monday night and rose to RMB 112,000/mt helped by growing long positions. The prices ended down RMB 760/mt. Trading volumes were 608 lots and positions grew 18.

SHFE tin prices are expected to move at RMB 112,000-113,500/mt, and spot tin in Chinese market may trade at RMB 112,500-115,000/mt.