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Tight Supply to Support Shanghai Spot Tin Prices (2016-8-2)
Aug 2, 2016 09:40Source:SMM
In Shanghai spot tin market, tightening supply are allowing suppliers to hold offers firm, with mainstream traded prices expected at RMB 119,500-121,000/mt.
SHANGHAI, Aug. 2 (SMM) –In Shanghai spot tin market, tightening supply are allowing suppliers to hold offers firm, with mainstream traded prices expected at RMB 119,500-121,000/mt. Spot discounts will reverse into premiums over SHFE 1608 tin.
SHFE 1609 tin was hit by short selling during last Monday’s night session, and will move between RMB 118,400-120,000/mt today.
LME tin will move between USD 17,500-18,200/mt, with eyes on the Reserve Bank of Australia’s meeting.
Key Macroeconomic Indicators for Base Metal Prices (2016-8-2)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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