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SHFE Tin to See Range-Bound Trading (2016-11-29)
Nov 29, 2016 09:45Source:SMM
SHFE 1701 tin dropped at the tail of Monday’s trading and is expected to move between RMB 145,000-148,000/mt on Tuesday.
SHANGHAI, Nov. 29 (SMM) – Attention should be on revised reading of US GDP in Q3 on Tuesday. LME tin closed below the 20-day moving average on Monday and will test USD 20,700/mt on Tuesday. SHFE 1701 tin dropped at the tail of Monday’s trading and is expected to move between RMB 145,000-148,000/mt on Tuesday.
In China’s domestic market, market’s purchase interest may reduce with weak LME tin and SHFE 1701 tin. Spot tin should trade at RMB 146,500-148,500/mt on Tuesday.
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