LME Tin to Challenge Previous Resistance (2016-8-22)

Published: Aug 22, 2016 09:31

Save

LME tin will head to USD 19,200/mt if it breaks through resistance at USD 18,650/mt.

SHANGHAI, Aug. 22 (SMM) –LME tin will head to USD 19,200/mt if it breaks through resistance at USD 18,650/mt.

SHFE 1609 tin kept rising during last Friday’s night trading, but fell back to near opening price at the tail of the session, indicating strong resistance. The contract will move between RMB 121,500-123,000/mt today.

In Shanghai spot tin market, supply will grow as some smelters will begin to resume production this week. Downstream demand will fall as the nearing G20 Summit will hurt downstream production. As such, mainstream traded prices will lack upward momentum and move between RMB 122,500-124,000/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-22)

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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn