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LME Tin to Face Downward Pressure from Stronger US Dollar (2015-12-17)
Dec 17, 2015 09:58Source:SMM
As expected, the US Fed raised federal fund rate to 0.25%-0.50%, its first hike in nearly a decade.
SHANGHAI, Dec. 17 (SMM) – As expected, the US Fed raised federal fund rate to 0.25%-0.50%, its first hike in nearly a decade. The US dollar index rose in response, and this will leave LME tin testing support at USD 14,400/mt while testing resistance at USD 14,800/mt.
See forecast for other base metals, please click: No Big Impact on Base Metal Prices from US Rate Hike, SMM Says
SHFE 1601 tin advanced sharply at the tail of Wednesday’s night session on long buying, and should move at RMB 89,000-92,000/mt today, with gains checked by weak LME tin.
Tin prices in Shanghai spot market will follow SHFE tin up to RMB 89,500-91,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2015-12-17)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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