SHANGHAI, Nov. 30 (SMM) – Eyes should be on OPEC output cut meeting on Wednesday. LME tin is predicted to test support at the 40-day moving average on Wednesday. If LME tin drops below the 40-day moving average, it will test USD 20,100/mt. SHFE 1701 tin kept falling on Tuesday’s night trading and will range between RMB 140,000-143,000/mt on Wednesday with support at RMB 138,000/mt.
In China’s domestic market, spot tin should drop with falling SHFE 1701 tin and will trade at RMB 143,000-145,000/mt on Wednesday.