SHANGHAI, Oct. 11 (SMM) – LME tin will continue to feel downward pressure this coming week, and may slid to $19,700/tonne if losing support at $20,000/tonne, Shanghai Metals Market foresees.
After a week-long Chinese National Day holiday in early October, market players will gradually return to the market, but downstream demand will remain quiet.
However, limited supply and cost support will help domestic tin price find support at 137,000 yuan per tonne, with resistance at 140,000 yuan per tonne, SMM estimates.
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