SHANGHAI, Jun. 18 (SMM) – LME tin prices started at USD 14,700/mt Wednesday and closed USD 140/mt higher at USD 14,750/mt, with high end price at USD 14,835/mt and low end at USD 14,595/mt. Trading volumes were 146 lots and positions fell by 715 to 19,182. LME tin inventories dropped 715 mt to 6,715 mt.
The Fed held the benchmark interest rate unchanged following June’s policy meeting, but reiterated that the US economy is recovering. The US dollar index dropped.
LME tin prices have found solid support from USD 14,600/mt Spot tin prices in Chinese market may hold steady at RMB 112,000-114,000/mt on limited low-priced goods.