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Home / Metal News / Will Tin Prices Continue Tumbling?

Will Tin Prices Continue Tumbling?

Sep 12, 2014 17:21

Source:SMM

A bearish mood is growing in tin market after earlier sharp losses. LME tin is expected to rebound slightly after tumbling, with resistance at $21,400 per tonne, Shanghai Metals Market foresees.

SHANGHAI, Sept. 12 (SMM) – A bearish mood is growing in tin market after earlier sharp losses. LME tin is expected to rebound slightly after tumbling, with resistance at $21,400 per tonne, Shanghai Metals Market foresees.

However, a downward pressure will remain after price rebounds, and the market may find support at $20,900 per tonne for the foreseeable future.

In China’s tin market, spot price will be supported by supply tightness and high costs, but weak LME tin prices will weigh down China’s domestic tin price, with price expected to range 138,000-140,000 yuan per tonne, SMM estimates.

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