SHANGHAI, Nov. 16 (SMM) – LME Tin is expected to test support at the 40-day moving average on Wednesday. If LME tin breaks through the 40-day moving average, it will test support at around USD 19,900/mt. On Tuesday’s night trading, SFHE 1701 tin dropped slightly and will fluctuate at RMB 143,500-146,500/mt on Wednesday with falling LME tin and ferrous metals in China’s market.
In China’s domestic market, spot tin followed SHFE 1701 tin down and spot premiums widened during Tuesday’s afternoon trading. Spot tin should trade at RMB 146,000-148,000/mt on Wednesday.