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LME Tin to Remain Range-Bound Trading (2017-1-16)
Jan 16, 2017 09:59Source:SMM
LME tin is expected to remain range-bound trading on Monday and SHFE 1705 tin will move at RMB 148,500-151,500/mt .
SHANGHAI, Jan. 16 (SMM) – Eyes should be on effect from US dollar index on base metals on Monday. LME tin is expected to remain range-bound trading on Monday. SHFE 1705 tin increased last Friday with positions closing by shorts and was weighed by the 5 and 10-day moving averages. The contract will move at RMB 148,500-151,500/mt on Monday.
In China’s domestic market, most downstream buyers buy goods at low prices. Trading will be quieter this week with nearing of 2017 Chinese New Year. Spot tin should trade at RMB 150,500-153,000/mt on Monday.
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