SHFE Tin to Move Lower (2017-3-21)

SHANGHAI, Mar. 21 (SMM) – LME tin dropped from highs on Monday’s night trading and found support from USD 20,000/mt and falling inventory. But, falling nonferrous metals weigh down LME tin and the contract will drop slightly to USD 20,000-20,400/mt on Tuesday. SHFE 1705 tin opened higher on Monday’s night trading but declined and will move at RMB 144,500-147,000/mt on Tuesday.

In China’s domestic market, spot tin should trade at RMB 144,000-146,000/mt on Tuesday.