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Home / Metal News / SHFE Tin to Hover at Lows (2016-2-26)

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

iconFeb 26, 2016 09:42
Source: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.

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
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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.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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