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.