SMM Tin Market Morning Review (2015-11-18)

Published: Nov 18, 2015 09:43

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LME tin opened at USD 14,660/mt on Tuesday.

SHANGHAI, Nov. 18 (SMM) –LME tin opened at USD 14,660/mt on Tuesday. The metal touched day’s high of USD 14,775/mt and day’s low of USD 14,525/mt before closing down USD 110/mt at USD 14,570/mt. Trading volumes were down 22 lots to 169 lots, and positions were down 23 to 18,906. Inventories fell 5 mt to 5,465 mt. The decline is due mainly to a stronger US dollar. US manufacturing activity picked up slightly in October, but US industrial output fell 0.2%. Despite mixed economic data, expectations remained high for US rate hike in December, favoring the US dollar. LME tin should move between USD 14,400-14,800/mt on Wednesday.

SHFE 1601 tin moved at low levels on Tuesday night, and should move at RMB 88,000-89,000/mt on Wednesday. In China’s spot market, poor market sentiment will push mainstream traded prices down to RMB 88,000-90,500/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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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