SHANGHAI, Nov. 26 (SMM) – LME tin broke through the 5-day moving average overnight and should challenge resistance at USD 14,800/mt on Thursday.
SHFE 1601 tin moved up during Wednesday’s night session on dip-buying, and is expected to stay high between RMB 83,000-85,000/mt today.
See forecast for other base metals, please click: Base Metals Close with Gains Despite Strong Dollar, SMM Says
In Shanghai spot market, supply of cheap goods will decrease slightly, and demand will remain weak. Mainstream traded prices are expected at RMB 84,000-87,000/mt.