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LME Tin to Stay Firm (2017-2-13)
Feb 13, 2017 10:03Source:SMM
LME tin will move at USD 19,300-19,650/mt and SHFE 1705 tin will fluctuate between RMB 147,000-149,000/mt.
SHANGHAI, Feb. 13 (SMM) – LME tin is expected to stay firm on Monday and will move at USD 19,300-19,650/mt. SHFE 1705 tin advanced sharply on last Friday’s night trading with position closing by shorts and finally closed at RMB 148,300/mt. The contract will fluctuate between RMB 147,000-149,000/mt on Monday.
In China’s domestic market, some smelters will rush to sell goods at high prices and goods under hedging will be hard to sell. Smelters are expected to start shipment. Quiet demand will restrain any growth in spot tin. Spot tin will trade at RMB 146,500-148,500/mt on Monday.
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