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SMM Tin Price Forecast (Mar. 19-23)
Mar 19,2012 11:39CST
smm insight
Source:SMM
Chinese spot tin prices are expected to meet resistance at RMB 175,000/mt but will also find support at RMB 172,000/mt.

SHANGHAI, Mar. 19 (SMM) -- Spot tin prices climbed to RMB 172,500-174,500/mt last week in Shanghai backed by noticeable gains in LME tin prices. Such gains did not boost much buying as in before, however, as weak demand predominated. This is also in line with SMM survey results revealing sluggish production orders at downstream businesses. SMM expects LME tin to continue stagnating this week as fundamentals can hardly improve. Chinese spot tin prices are expected to meet resistance at RMB 175,000/mt but will also find support at RMB 172,000/mt.

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