SHANGHAI, May 9 (SMM) – Poor China foreign trade data for April will trigger worries over demand in the world’s second largest economy. SHFE 1605 tin broke through resistance at the 5-day moving average during last Friday’s night session, but will face downward pressure on Monday and move at RMB 111,500-113,500/mt.
The US dollar index fell following poor US non-farm payrolls, but then rebounded. LME tin should test resistance at USD 17,500/mt.
In Shanghai spot tin market, mainstream traded prices are expected at RMB 111,500-113,500/mt.