LME Tin to Hover at Highs (2016-11-11)-Shanghai Metals Market

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LME Tin to Hover at Highs (2016-11-11)

Price Review & Forecast 09:59:45AM Nov 11, 2016 Source:SMM

SHANGHAI, Nov. 11 (SMM) – LME tin is expected to hover at highs on Friday with support at USD 21,300/mt and resistance at USD 21,800/mt. SHFE announced to raise trading margins for aluminum, lead, zinc and tin to 8% on Thursday. SHFE 1701 tin thus dropped on Thursday’s night trading but found support at the 5-day moving average. The contract will range between RMB 150,000-155,000/mt on Friday.

In China’s domestic market, spot tin lacks of rising strength as SHFE 1701 tin hovered at highs. Downstream buyers take a wait-and-see stance, resulting in sluggish trading. Spot tin is predicted to move between RMB 151,000-152,500/mt on Friday.

Key Words:  SHFE tin  LEM tin  tin prices 

Price

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#1 Tin Ingot
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146500.0
-250.0
(-0.17%)
Tin Concentrate-Yunnan
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131000.0
-500.0
(-0.38%)
Tin Concentrate -Hunan
Apr.24
134250.0
-500.0
(-0.37%)
Tin Concentrate-Jiangxi
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134250.0
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Tin Concentrate-Guangxi
Apr.24
134250.0
-500.0
(-0.37%)

LME Tin to Hover at Highs (2016-11-11)

Price Review & Forecast 09:59:45AM Nov 11, 2016 Source:SMM

SHANGHAI, Nov. 11 (SMM) – LME tin is expected to hover at highs on Friday with support at USD 21,300/mt and resistance at USD 21,800/mt. SHFE announced to raise trading margins for aluminum, lead, zinc and tin to 8% on Thursday. SHFE 1701 tin thus dropped on Thursday’s night trading but found support at the 5-day moving average. The contract will range between RMB 150,000-155,000/mt on Friday.

In China’s domestic market, spot tin lacks of rising strength as SHFE 1701 tin hovered at highs. Downstream buyers take a wait-and-see stance, resulting in sluggish trading. Spot tin is predicted to move between RMB 151,000-152,500/mt on Friday.

Key Words:  SHFE tin  LEM tin  tin prices