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Home / Metal News / Growing Stocks to Weigh on LME Tin (2016-5-13)

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

iconMay 13, 2016 09:23
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)



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SHFE tin prices
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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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