LME Tin Sets for Gains (2016-11-24)-Shanghai Metals Market

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LME Tin Sets for Gains (2016-11-24)

Price Review & Forecast 09:56:45AM Nov 24, 2016 Source:SMM

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.

Key Words:  SHFE tin  LEM tin  tin prices 

Price

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#1 Tin Ingot
Apr.19
146750.0
-500.0
(-0.34%)
Tin Concentrate-Yunnan
Apr.19
131500.0
-500.0
(-0.38%)
Tin Concentrate -Hunan
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Jiangxi
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Guangxi
Apr.19
134750.0
-500.0
(-0.37%)

LME Tin Sets for Gains (2016-11-24)

Price Review & Forecast 09:56:45AM Nov 24, 2016 Source:SMM

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.

Key Words:  SHFE tin  LEM tin  tin prices