SHFE Tin to See Range-Bound Trading (2016-11-18)

Published: Nov 18, 2016 09:39

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LME tin will test support at USD 19,800/mt on Friday and SHFE 1701 tin will fluctuate between RMB 141,500-144,500/mt.

SHANGHAI, Nov. 18 (SMM) – Growing odds of US interest rate hike helps US dollar remains at highs, weighing down base metals. LME tin will test support at USD 19,800/mt on Friday after overselling and market should be wary on a possible decline in a short term. SHFE 1701 tin rose slightly on Thursday and will fluctuate between RMB 141,500-144,500/mt on Friday with longs’ wary sentiment.

In China’s domestic market, spot tin should trade at RMB 143,000-145,000/mt. Falling SHFE 1701 tin depresses market.

SHFE tin LEM tin tin prices

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