SHANGHAI, Nov. 8 (SMM) – Eyes should be on US presidential election on Tuesday and the result should make impact on market in a short term. LME tin is predicted to test USD 22,500/mt on Tuesday. SHFE 1701 tin advanced to its daily upward limit on Monday and kept rising momentum on Monday’s night trading, up to as high as RMB 150,860/mt, before closing at RMB 150,700/mt, up 4.44%. The contract will move between RMB 148,500-150,500/mt on Tuesday.
Trading is brisk in China’s domestic market. Spot tin should keep firm as SHFE 1701 tin rises and trade at RMB 148,500-150,500/mt on Tuesday. Market needs to eye impact on prices from downstream consumption.