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LME Tin Sets for Gains (2016-11-24)
Nov 24, 2016 09:56Source:SMM
LME tin will remain rising momentum on Thursday and SHFE 1701 tin will move between RMB 147,500-150,500/mt.
SHANGAHI, Nov. 24 (SMM) – US’s futures markets closed on Thursday for Thanks Giving Day but market players in other global markets will be wary. LME tin will remain rising momentum on Thursday, supported by positive fundamentals and falling Chinese yuan, despite resistance at USD 22,000/mt. But, the growth will be limited by strong US dollar index. SHFE 1701 tin increased with rising positions on Wednesday’s night trading, up to as high as RMB 150,000/mt. The contract is expected to keep robust in a short term and will move between RMB 147,500-150,500/mt on Thursday.
In China’s domestic market, spot tin should trade at RMB 148,000-150,000/mt on Thursday.
SHFE tin
LEM tin
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