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SHFE Tin to Face Downward Pressure (2016-3-22)
Mar 22, 2016 09:28Source:SMM
SHFE 1605 tin hit a high of RMB 110,480/mt during Monday’s night session, but then fell back to below the 10-day moving average.
SHANGHAI, Mar. 22 (SMM) –SHFE 1605 tin hit a high of RMB 110,480/mt during Monday’s night session, but then fell back to below the 10-day moving average. The most active contract is expected to drop slightly to RMB 108,500-110,500/mt on Tuesday.
LME tin is expected to move at USD 16,700-17,100/mt.
In Shanghai spot tin market, cheap goods will flow in. Some downstream producers will hold back from buying out of pessimism. Mainstream traded prices are expected at RMB 109,000-111,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-3-22)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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