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SMM Tin Market Morning Review

Release time:2014-11-20

 Nov 20, 2014 01:21 GMT   Source:SMM

 

SHANGHAI, Nov. 20 (SMM) – LME tin opened at USD 19,649/mt on Wednesday. The metal touched day’s high of USD 19,754/mt and day’s low of USD 19,506/mt before closing up USD 100/mt at USD 19,675/mt. Trading volumes were down 89 lots to 110 lots, with positions down 800 lots to 21,455 lots. Inventories increased 5 mt to 11,180 mt.    
 
LME tin prices moved higher as expectations for dovish minutes of the US Fed’s latest policy meeting weighed on the dollar. US building permits hit 6-1/2 high in October, lifting LME tin further. 
 
LME tin should test support at USD 19,300/mt on Thursday. In Shanghai spot tin market, mainstream traded prices are expected between RMB 133,500-136,000/mt.