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SHFE Tin to Perform Better than LME Tin (2016-4-19)
Apr 19, 2016 09:33 LME tin lost support at USD 17,000/mt and should look for floor at USD 16,700/mt on Tuesday.
SHANGHAI, Apr. 19 (SMM) – LME tin lost support at USD 17,000/mt and should look for floor at USD 16,700/mt on Tuesday.
SHFE 1605 tin was supported by exit of shorts, and should move at RMB 110,000-112,000/mt today.
In Shanghai spot tin market, smelters have shown low selling interest, leaving supply limited. Market confidence will restore as SHFE tin stopped falling overnight. Mainstream traded prices are expected at RMB 111,500-112,500/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-19)
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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