SHFE Tin to Face Downward Pressure (2016-5-9)-Shanghai Metals Market

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SHFE Tin to Face Downward Pressure (2016-5-9)

Price Review & Forecast 09:44:57AM May 09, 2016 Source:SMM

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. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-9)




SHFE Tin to Face Downward Pressure (2016-5-9)

Price Review & Forecast 09:44:57AM May 09, 2016 Source:SMM

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. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-9)