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Tin Market Morning Review (2014-7-2)

LME tin opened at USD 22,600/mt on Tuesday. The metal touched day’s high USD 22,800/mt and day’s low of USD 22,364/mt before closing up USD 16/mt at USD 22,700/mt. Trading volumes contracted 226 lots to 543 lots, with positions up 55 lots to 21,781 lots. Inventories grew 100 mt to 11,485 mt.    

Market attention will focus on US ADP employment report for June and US factory orders for May today. LME tin should meet resistance at USD 22,900/mt and find support at USD 22,200/mt on Wednesday. In Shanghai physical tin market, mainstream traded prices are expected to hold stable between RMB 138,000-139,500/mt.  

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