SHANGHAI, Nov. 22 (SMM) – LME tin surged USD 600/mt to USD 20,800/mt on Monday and met resistance at the 10 and 20-day moving averages. The contract is predicted to move between USD 20,350-20,850/mt on Tuesday with support at the 40-day moving average. SHFE 1701 tin dropped quickly to RMB 143,180/mt from RMB 145,780/mt on Monday’s night trading and rallied to RMB 146,200/mt at the tail of trading. SHFE 1701 tin is expected to move at RMB 144,000-147,500/mt on Tuesday.
In China’s domestic market, trading is predicted to be brisk on Tuesday. Spot tin will follow SHFE 1701 tin up and should trade at RMB 145,000-147,000/mt on Tuesday.