Shanghai Spot Tin Prices to Face Downward Pressure (2016-8-29)

Published: Aug 29, 2016 09:36

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In Shanghai spot tin market, mainstream traded prices are expected to fall to RMB 123,500-124,500/mt due to ample supply.

SHANGHAI, Aug. 29 (SMM) –In Shanghai spot tin market, mainstream traded prices are expected to fall to RMB 123,500-124,500/mt due to ample supply.

US Fed Chairwoman’s speech raised expectations for US rate hike, which will boost the US dollar and put pressure on base metals. LME tin will meet resistance at USD 19,200/mt and find support at USD 18,600/mt.

Investors are rolling positions from SHFE 1609 tin to 1701 tin. SHFE 1609 tin will move at RMB 122,500-124,000/mt today. Key Macroeconomic Indicators for Base Metal Prices (2016-8-29)

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

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