[Sn Price] SMM Tin Market Morning Review (2015-7-23)

Published: Jul 23, 2015 09:21

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LME tin fell to USD 14,750/mt on Wednesday.

SHANGHAI, Jul. 23 (SMM) –LME tin fell to USD 14,750/mt on Wednesday. Crude oil prices continued falling on growing inventories. Gold suffered selloffs. Greek bailout vote will be eyed today. LME tin should test support at USD 14,450/mt on Thursday.

SHFE 1509 tin contract fell by RMB 1,860/mt to RMB 109,160/mt on Wednesday, and is expected to fall further to test support at RMB 107,700/mt today. In Shanghai spot market, traders will show high selling interest, while downstream buyers will hold from the sidelines. So, mainstream traded prices are expected to fall to RMB 110,500-112,500/mt.

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