LME Tin to Face Downward Corrections (2016-11-1)-Shanghai Metals Market

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LME Tin to Face Downward Corrections (2016-11-1)

Price Review & Forecast 09:16:04AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. 1 (SMM) – Market will eye China official and Caixin October manufacturing PMIs today, which are expected to be flat with previous figures. LME tin will test resistance at USD 20,700/mt and face downward corrections after seven consecutive days of rise, with support at USD 20,500/mt.     

SHFE 1701 tin should move between RMB 134,500-136,000/mt today.
In Shanghai spot tin market, mainstream traded prices are expected to hold firm at RMB 134,000-135,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-11-1)

 

 

Price

more
#1 Tin Ingot
Apr.19
146750.0
-500.0
(-0.34%)
Tin Concentrate-Yunnan
Apr.19
131500.0
-500.0
(-0.38%)
Tin Concentrate -Hunan
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Jiangxi
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Guangxi
Apr.19
134750.0
-500.0
(-0.37%)

LME Tin to Face Downward Corrections (2016-11-1)

Price Review & Forecast 09:16:04AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. 1 (SMM) – Market will eye China official and Caixin October manufacturing PMIs today, which are expected to be flat with previous figures. LME tin will test resistance at USD 20,700/mt and face downward corrections after seven consecutive days of rise, with support at USD 20,500/mt.     

SHFE 1701 tin should move between RMB 134,500-136,000/mt today.
In Shanghai spot tin market, mainstream traded prices are expected to hold firm at RMB 134,000-135,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-11-1)