LME Tin to See Range-Bound Trading (2017-2-28)

Published: Feb 28, 2017 09:37

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LME tin will keep fluctuating on Tuesday with support at USD 18,600/mt and SHFE 1705 tin will keep ranging at RMB 146,500-148,000/mt.

SHANGHAI, Feb. 28 (SMM) – Eyes should be on Trump’s speech at 22:00 on Tuesday. If details of tax reform and infrastructure are not mentioned in the speech, risk assets will drop sharply. LME tin met resistance at the 10 and 20-day moving averages on Monday and will keep fluctuating on Tuesday with support at USD 18,600/mt. SHFE 1705 tin fluctuated above the moving average on Monday’s night trading and will find resistance at RMB 148,000. The contract will keep ranging at RMB 146,500-148,000/mt on Tuesday.

In China’s domestic market, as SHFE 1705 tin will not be volatile on Tuesday, spot tin should trade at RMB 146,000-148,000/mt.

SHFE tin LEM tin tin prices

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