LME Tin to Meet Strong Resistance (2017-5-18)

SHANGHAI, May 18 (SMM) –LME tin should meet resistance at USD 20,600/mt today. SHFE 1709 tin rose slightly during Thursday’s night session, but failed to break through the 60-day moving average. The contract should range RMB 142,500-144,500/mt today, testing resistance at the 60-day moving average.  

In Shanghai spot tin market, spot discounts will remain high due to soft demand. Mainstream traded prices are expected at RMB 139,500-142,000/mt. 

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