SHANGHAI, Mar. 13 (SMM) – Further declines are expected in tin market due to weak sentiment, Shanghai Metals Market foresees.
LME tin is expected to slide to $17,000 per tonne, and with upper hand at $17,400 per tonne, SMM expects.
In China’s domestic market, tin price is expected to test support at 120,000 yuan per tonne, and may fall below the mark due to falling LME tin and poor demand.
The inverse relation between dollar and commodity market is not as sensitive as before, and the implementation of policies in China after the end of two sessions is expected to cheer the market. Hence, outlook for metals market should not be too pessimistic.
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