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.