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SHFE Tin to Face Downward Pressure (2016-7-6)
Jul 6, 2016 09:20Source:SMM
SHFE 1609 tin continued falling during Tuesday’s night session and should move at RMB 115,000-118,000/mt today.
SHANGHAI, Jul. 6 (SMM) –SHFE 1609 tin continued falling during Tuesday’s night session and should move at RMB 115,000-118,000/mt today.
LME tin will remain under downward pressure and test support at USD 17,300/mt.
In Shanghai spot tin market, buyers will source only as needed, and mainstream traded prices will drop to RMB 115,500-117,500/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-7-6)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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