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SHFE Tin to Stay Weak (2016-3-30)

iconMar 30, 2016 09:25
Short selling sent SHFE 1605 tin down to RMB 105,520/mt during Tuesday’s night session.

SHANGHAI, Mar. 30 (SMM) –Short selling sent SHFE 1605 tin down to RMB 105,520/mt during Tuesday’s night session. The most active contract is expected to test support at the 40-day moving average and move at RMB 106,000-109,000/mt on Wednesday.  

LME tin will test support at the 20-day moving average, and head for USD 16,500/mt if it fails to hold onto the 20-day moving average. 

In Shanghai spot tin market, buyers will go bargain hunting. Mainstream traded prices are expected at RMB 108,000-110,000/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-30)



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.

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