SHFE Tin to Hover at Lows (2016-2-26)

Published: Feb 26, 2016 09:42

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SHFE 1605 tin lost support at the 5-day moving average during Thursday’s night session due to profit-taking by longs, and should stay weak at RMB 103,000-105,000/mt on Friday.

SHANGHAI, Feb. 26 (SMM) –SHFE 1605 tin lost support at the 5-day moving average during Thursday’s night session due to profit-taking by longs, and should stay weak at RMB 103,000-105,000/mt on Friday.

LME tin will look for support at USD 15,400/mt if it fails to break through resistance at USD 16,000/mt.

In Shanghai spot tin market, the pullback in SHFE tin will dampen market sentiment. Processors will buy only as needed. Mainstream traded price are expected between RMB 105,500-108,000/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-26)

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

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