SHFE Tin to Meet Downward Pressure (2016-11-21)

Published: Nov 21, 2016 09:39

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LME tin will test the 60-day moving average and SHFE 1701 tin is expected to move between RMB 137,000-141,000/mt on Monday.

SHANGHAI, Nov. 21 (SMM) – LME tin stabilized at around the 60-day moving average for the moment with a possible decline, waiting for direction from market. If LME tin drops below the 60-day moving average, it will test USD 19,300/mt. SHFE 1701 tin kept downward momentum last Friday and will test RMB 138,500/mt on Monday. If SHFE 1701 tin falls below RMB 138,500/mt, it will test RMB 135,000/mt. The contract is expected to move between RMB 137,000-141,000/mt on Monday.

In China’s domestic market, spot tin should trade at RMB 141,000-143,000/mt on Monday.

SHFE tin LEM tin tin prices

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