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SMM Tin Market Morning Review (2015-11-12)

iconNov 12, 2015 10:01
LME tin opened at USD 14,660/mt on Wednesday.

SHANGHAI, Nov. 12 (SMM) –LME tin opened at USD 14,660/mt on Wednesday. The metal touched day’s high of USD 14,885/mt and day’s low of USD 14,585/mt before closing up USD 115/mt at USD 14,770/mt. Trading volumes were up 40 lots to 166 lots, and positions were down 417 to 18,466. Inventories were unchanged at 5,390 mt. China’s industrial data for October missed forecasts, taking a toll on commodity market. The rise in LME tin is due mainly to technical correction, with buying activity still muted. LME tin will test resistance at USD 14,800/mt on Thursday, with support at USD 14,400/mt.  

SHFE 1601 tin should move at RMB 90,000-91,000/mt on Thursday. In China spot market, mainstream traded prices are expected between RMB 90,000-92,000/mt. 


   


Sn price
LME tin prices
Shanghai tin prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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