SHFE Tin to Stay Weak (2016-6-23)

SHANGHAI, Jun. 23 (SMM) –Caution will prevail before result of UK referendum. LME tin will consolidate at USD 17,000-17,150/mt today.

SHFE 1609 tin fell back to RMB 111,000/mt after rising to RMB 112,280/mt overnight. The contract will remain weak at RMB 110,000-111,800/mt today.

In Shanghai spot tin market, supply of cheap goods will be ample and trading will be modest. Mainstream traded prices are expected at RMB 109,000-111,000/mt.  

Key Macroeconomic Indicators for Base Metal Prices (2016-6-23)