SMM7, March 2: tin prices plummeted in intraday trading today, falling as much as 2.47% as of 10:43, falling 2.16% to 140750 yuan / ton, down for the fifth day in a row.
From a macro point of view, the new developments in the Sino-US trade war have given a limited boost to the metal market, with a sharp rise in the US dollar and unsatisfactory Sino-US economic data released yesterday putting pressure on metal futures.
In addition, the data showed that tin inventories on the two major exchanges reached another high level. LME data released on Monday showed that Rensi inventories had recently continued to rise to 6390 tons, refreshing more than three years of inventory highs.
Shanghai tin inventories rose for three weeks to 8392 tons, the highest level since May 10, according to data released in the previous period.
SMM will later for the July tin price trend for a detailed interpretation, please pay attention!
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