SHANGHAI, Mar. 30 (SMM) – Shanghai tin futures prices are expected to lurch lower this week, Shanghai Metals Market foresees.
Shorts dominate the Shanghai tin futures market after its debut trading last Friday. Sluggish market fundamentals will continue to depress the market, and SHFE 1507 tin is expected to fall to test support at 118,000 yuan per tonne.
In China’s domestic spot market, prices will also move lower on sluggish demand and falling futures tin prices. The emerging of arbitrage trading between futures and spot market will likely further weigh down spot market, and so far, however, the co-relation between the two markets is relatively low, as futures trading just began.
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