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Brisk Trading Expected in Shanghai Spot Tin Market (2016-5-11)
May 11, 2016 09:59Source:SMM
Market will eye China April social financing and lending data.
SHANGHAI, May 11 (SMM) – Market will eye China April social financing and lending data. There is low possibility for China to loosen monetary policy in the future.
LME tin will move at USD 17,000-17,350/mt on Wednesday, testing resistance at USD 17,260/mt.
SHFE 1609 tin shot up to RMB 109,400/mt during Tuesday’s night session, and should range RMB 108,500-111,000/mt today.
In Shanghai spot tin market, trading will turn active and supply of cheap goods will be tight. Mainstream traded prices are expected at RMB 110,000-112,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-11)
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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