SHFE tin to face downward pressure on exit of longs (2015-12-16)

Published: Dec 16, 2015 10:03

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SHFE 1601 tin pulled back during Tuesday’s night session on exit of longs, and should continue facing downward pressure on Wednesday to move at RMB 87,500-89,000/mt.

SHANGHAI, Dec. 16 (SMM) –SHFE 1601 tin pulled back during Tuesday’s night session on exit of longs, and should continue facing downward pressure on Wednesday to move at RMB 87,500-89,000/mt.

LME tin is expected to test support at USD 14,400/mt on caution before the US Fed’s policy meeting.

See forecast for other base metals, please click: Market Eyes on Busy Data Calendar, with Stronger Caution, SMM Says

Tin prices in Shanghai spot market will face downward pressure from retreat of SHFE tin, but will find support from tight supply. Mainstream traded prices are expected at RMB 88,000-89,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-16)

LME tin prices SHFE tin prices tin prices Sn price base metal price forecast

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