Home / Metal News / LME Tin to Lack further Upward Momentum (2016-3-24)

LME Tin to Lack further Upward Momentum (2016-3-24)

iconMar 24, 2016 09:18
Source:SMM
LME tin hit a new high yesterday, but rally of US dollar will deprive LME tin of further upward momentum.

SHANGHAI, Mar. 24 (SMM) –LME tin hit a new high yesterday, but rally of US dollar will deprive LME tin of further upward momentum. LME tin should range USD 17,000-17,500/mt on Thursday. 

Short selling sent SHFE 1605 tin down to RMB 109,030/mt during Wednesday’s night session, but long buying pushed the contract back up to RMB 110,690/mt. The most active contract is expected to move at RMB 109,000-111,000/mt today. 

In Shanghai spot tin market, some cargo holders will be eager to sell at highs, and trading will be modest. Mainstream traded prices are expected at RMB 110,000-111,500/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-24)





LME tin prices
SHFE tin prices
tin prices
Sn price
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

For more information on how to access our research reports, please email service.en@smm.cn

Related news