SHFE Tin to Meet Resistance (2016-6-3)-Shanghai Metals Market

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SHFE Tin to Meet Resistance (2016-6-3)

Price Review & Forecast 10:10:39AM Jun 03, 2016 Source:SMM

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)



SHFE Tin to Meet Resistance (2016-6-3)

Price Review & Forecast 10:10:39AM Jun 03, 2016 Source:SMM

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)