SHANGHAI, Aug. 18 (SMM) –LME tin opened at USD 15,280/mt on Monday. The metal touched day’s high of USD 15,620/mt and day’s low of USD 15,200/mt before closing up USD 85/mt at USD 15,510/mt. Trading volumes were down 180 lots to 182 lots, and positions were up 240 to 22,209. Inventories were unchanged at 6,345 mt. New York Fed’s manufacturing index was way beyond expectations in August. But this was offset by positive US housing market data released subsequently. The US Fed will release minutes for its latest policy meeting this Thursday. LME tin should range USD 15,000-16,000/mt on Tuesday.
SHFE 1509 tin contract should move between RMB 106,500-108,000/mt on Tuesday. In Shanghai spot market, mainstream traded prices are expected between RMB 106,500-109,000/mt.