SHANGHAI, Dec. 30 (SMM) – Tin prices in Shanghai are expected to remain low between RMB 93,000-95,500/mt on Wednesday due to tepid buying activity.
SHFE 1605 tin met strong resistance at the 10-day moving average during Tuesday’s night session, and should range RMB 93,000-94,000/mt on today.
See forecast for other base metals, please click: Diverging Trends Expected in Base Metal Market, SMM Says
LME tin followed other base metals up yesterday, but it remains to be seen whether it will extend gains today. LME tin should test support at USD 14,400/mt and test resistance at USD 14,800/mt.