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A weakening US dollar index pushed up base metals prices. US June manufacturing PMI rebounded, and construction spending in May hit a four-year high, boosting market confidence. The sluggish China's June PMI did not affect tin prices significantly.
LME tin prices should encounter resistance at USD 20,000/mt but find support at USD 19,500/mt today, and spot prices in Shanghai should hover between RMB 138,000-140,000/mt.
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