SHANGHAI, Oct. 9 (SMM) –LME tin opened at USD 15,970/mt on Thursday. The metal touched day’s high of USD 16,050/mt and day’s low of USD 15,970/mt before closing down USD 90/mt at USD 15,850/mt. Trading volumes were down 92 lots to 202 lots, and positions were up 9 to 20,268. Inventories grew 15 mt to 4,665 mt. LME tin crept higher early in the day, but then took a freefall due to renewed worries over demand in China and downward correction after sharp gain earlier. Germany’s exports recorded the largest decline since the financial crisis in August, sparking selloffs. LME tin should look support at USD 15,800/mt in the near term. 

SHFE 1601 tin touched a session low of RMB 97,170/mt on Thursday night, and should move between RMB 97,000-98,500/mt on Friday. In China’s spot market, market sentiment will remain fragile, and mainstream traded prices are expected between RMB 97,000-99,000/mt.