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Growing Stocks to Weigh on LME Tin (2016-5-13)
May 13, 2016 09:23Source: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.
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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