SMM Tin Market Morning Review (2015-6-17)

SHANGHAI, Jun. 17 (SMM) – LME tin prices opened at USD 14,800/mt Tuesday and closed down USD 220/mt at USD 14,610/mt, with high end price at USD 14,845/mt and low end at USD 14,315/mt. Trading volumes were 162 lots and positions fell by 232 to 19,897. LME tin inventories dropped 140 mt to 7,205 mt.

SHFE tin gapped lower at RMB 111,720/mt Monday night and rose to RMB 112,000/mt helped by growing long positions. The prices ended down RMB 760/mt. Trading volumes were 608 lots and positions grew 18.

SHFE tin prices are expected to move at RMB 110,500-112,500/mt June 17, and spot tin in Chinese market may trade at RMB 112,000-114,000/mt.