SHANGHAI, Dec. 18 (SMM) – Strong SHFE tin and tight supply will allow tin prices in Shanghai spot market to extend gains on Friday. Mainstream traded prices are expected at RMB 91,000-93,000/mt.
A stronger US dollar after the US Fed’s rate hike will cap LME tin below USD 14,800/mt, testing support at USD 14,400/mt.
See forecast for other base metals, please click: Base Metal Prices to Weaken, with Eyes on China, SMM Says
SHFE 1601 tin continued rising during Thursday’s night session, and should rise further to RMB 91,000-93,000/mt.