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SMM Tin Market Morning Review (2015-11-17)
Nov 17, 2015 09:42Source:SMM
LME tin opened at USD 14,685/mt on Monday.
SHANGHAI, Nov. 17 (SMM) –LME tin opened at USD 14,685/mt on Monday. The metal touched day’s high of USD 14,850/mt and day’s low of USD 14,625/mt before closing down USD 110/mt at USD 14,680/mt. Trading volumes were up 115 lots to 191 lots, and positions were up 52 to 18,929. Inventories grew 55 mt to 5,470 mt. Terror attacks in Paris signal growing geopolitics risks globally and will put global commodity market under risks as well. LME tin should move between USD 14,400-14,800/mt on Tuesday.
SHFE 1601 tin struggled around RMB 90,000/mt on Monday night, and should move at RMB 89,500-90,500/mt on Tuesday. In China spot market, weak LME and SHFE tin will leave mainstream traded prices at current lows of RMB 88,500-91,000/mt.
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