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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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