SHFE Tin to Rally on Short Covering (2016-4-29)

Published: Apr 29, 2016 09:32

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SHFE 1605 tin fell for five days in a row, but found support at the 60-day moving average.

SHANGHAI, Apr. 29 (SMM) –SHFE 1605 tin fell for five days in a row, but found support at the 60-day moving average. The contract rebounded to RMB 108,660/mt during Thursday’s night session, and is expected to rise further to RMB 108,500-110,000/mt on Friday.

Rising crude oil prices will allow LME tin to move at highs of USD 17,000-17,300/mt.

In Shanghai spot tin market, pre-holiday downstream stocking will push mainstream traded prices up to RMB 110,000-111,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-29)

LME tin prices SHFE tin prices tin prices Sn price base metal price forecast

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