SMM Tin Market Morning Review (2015-9-29)-Shanghai Metals Market

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SMM Tin Market Morning Review (2015-9-29)

Price Review & Forecast 09:47:32AM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Negative Chinese economic data and slump in mining giant Glencore’s shares triggered selloffs in base metals. However, LME tin bucked the trend by rising, and ended Monday at USD 15,505/mt.   

During Monday’s night session, SHFE 1601 tin fell to RMB 96,220/mt, but then tracked LME tin up to close at RMB 97,420/mt. The most active contract should move between RMB 96,500-98,000/mt today. In China’s spot market, demand but will remain soft, but prices are unlikely to fall sharply. Mainstream traded prices are expected between RMB 97,000-98,500/mt on Tuesday.



   


SMM Tin Market Morning Review (2015-9-29)

Price Review & Forecast 09:47:32AM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Negative Chinese economic data and slump in mining giant Glencore’s shares triggered selloffs in base metals. However, LME tin bucked the trend by rising, and ended Monday at USD 15,505/mt.   

During Monday’s night session, SHFE 1601 tin fell to RMB 96,220/mt, but then tracked LME tin up to close at RMB 97,420/mt. The most active contract should move between RMB 96,500-98,000/mt today. In China’s spot market, demand but will remain soft, but prices are unlikely to fall sharply. Mainstream traded prices are expected between RMB 97,000-98,500/mt on Tuesday.