SHANGHAI, Nov. 3 (SMM) –LME tin will find support from tight supply and test support at USD 20,650/mt today. All eyes will be on US non-farm payrolls due for release tomorrow and next week’s US presidential election.
SHFE 1701 tin has found support around the 5-day moving average and should move between RMB 135,500-137,000/mt today.
In Shanghai spot tin market, prices will not resist declines due to tight supply. Should SHFE tin continue falling sharply, spot tin will trade at premiums over SHFE tin. Mainstream traded prices are expected at RMB 135,500-137,000/mt.