SHFE Tin to Face Downward Corrections (2016-7-4)

Published: Jul 4, 2016 09:27

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US market is closed today for the Independence Day.

SHANGHAI, Jul. 4 (SMM) – US market is closed today for the Independence Day. LME tin will meet resistance at USD 17,500/mt and find support at USD 17,100/mt.

SHFE 1609 tin hit daily upside limit again during last Friday’s night session, but may face downward corrections today and move at RMB 117,000-120,000/mt.

In Shanghai spot tin market, big price gains will drive downstream buyers to the sidelines. Mainstream traded prices are expected at RMB 117,000-120,000/mt, with discounts over SHFE 1607 tin to expand.

Key Macroeconomic Indicators for Base Metal Prices (2016-7-4)

LME tin prices SHFE tin prices tin prices Sn price base metal price forecast

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