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SHFE Tin to Meet Resistance (2016-6-3)
Jun 3, 2016 10:10Source:SMM
SHFE 1609 tin should fluctuate at RMB 107,000-108,000/mt today, with resistance at RMB 108,000/mt.
SHANGHAI, Jun. 3 (SMM) –SHFE 1609 tin should fluctuate at RMB 107,000-108,000/mt today, with resistance at RMB 108,000/mt.
Market expect US non-farm sector to add 60,000 jobs in May. LME tin will wait for direction, with support at USD16,100/mt.
In Shanghai spot tin market, spot premiums over SHFE tin narrowed and even reversed into discounts recently, due to onset of off-season. Mainstream traded prices are expected at RMB 107,500-109,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-6-3)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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