SHANGHAI, Sept. 18 (SMM) –LME tin opened at USD 15,650/mt on Thursday. The metal touched day’s high of USD 15,730/mt and day’s low of USD 15,400/mt before closing down USD 275/mt at USD 15,400/mt. Trading volumes were down 110 lots to 101 lots, and positions were down 144 to 20,257. Inventories were unchanged at 5,070 mt. The US dollar index fell after the US Fed announced no rate hike in September. LME tin should test support at USD 15,400/mt on Friday.
SHFE 1601 tin should range RMB 101,000-102,000/mt. In Shanghai spot market, mainstream traded prices are expected at RMB 99,500-101,500/mt.