Growing Stocks to Weigh on LME Tin (2016-5-13)

Published: May 13, 2016 09:23

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LME tin fell below all moving averages yesterday on short selling, and will remain weak on Friday due to growing LME stocks, testing support at USD 16,500/mt.

SHANGHAI, May 13 (SMM) – LME tin fell below all moving averages yesterday on short selling, and will remain weak on Friday due to growing LME stocks, testing support at USD 16,500/mt.

SHFE 1609 tin is expected to fall further to test support at RMB 106,630/mt today.

In Shanghai spot tin market, some hedged goods will flow into the market, which will force smelters to cut offers slightly. Mainstream traded prices are expected at RMB 109,000-112,000/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-13)

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

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