SMM Tin Market Morning Review (2014-10-27)

Oct 27, 2014 09:30

LME tin met resistance at the 10-day moving average last Friday.

SHANGHAI, Oct. 27 (SMM) – LME tin met resistance at the 10-day moving average last Friday. The US Federal Reserve is scheduled to issue policy statement this Wednesday. The Fed is expected to keep interest rate low for a longer time to support US economic recovery. Caution will dominate the market before the Fed’s policy decision. LME tin is under downward pressure and will test support at USD 19,000/mt on Monday. In Shanghai spot tin market, depletion of cheap goods will support mainstream traded prices between RMB 135,000-137,500/mt.

LME tin prices

Shanghai tin prices

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SMM Tin Market Morning Review (2014-10-27)

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