SMM Daily Review - 2010/1/8 Tin Market-Shanghai Metals Market

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SMM Daily Review - 2010/1/8 Tin Market

SMM Insight 09:59:38AM Jan 11, 2010 Source:SMM
SHANGHAI, Jan. 11 (SMM) -- On Thursday night, LME tin prices declined and closed at USD 17,425/mt. On Friday, prices continued to move around 5-day moving average, with wider fluctuation in the USD 17,400-17,600/mt range. Technically, RSI continued to weaken substantially, and KDJ also indicated price decline. Close attention should be paid whether prices could get support at 5-day moving average or not.
 
In the Shanghai tin market, cargo-holders (including smelters and traders) were still optimistic towards future market outlook, and still kept offers around RMB 130,000/mt. However, market responded with sluggish transactions, and most purchasers adopted a wait-and-see attitude.
 
 
 
Copyright © SMM. All Rights Reserved
 
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Daily Review - 2010/1/8 Tin Market

SMM Insight 09:59:38AM Jan 11, 2010 Source:SMM
SHANGHAI, Jan. 11 (SMM) -- On Thursday night, LME tin prices declined and closed at USD 17,425/mt. On Friday, prices continued to move around 5-day moving average, with wider fluctuation in the USD 17,400-17,600/mt range. Technically, RSI continued to weaken substantially, and KDJ also indicated price decline. Close attention should be paid whether prices could get support at 5-day moving average or not.
 
In the Shanghai tin market, cargo-holders (including smelters and traders) were still optimistic towards future market outlook, and still kept offers around RMB 130,000/mt. However, market responded with sluggish transactions, and most purchasers adopted a wait-and-see attitude.
 
 
 
Copyright © SMM. All Rights Reserved
 
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn