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)