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SHFE Tin to Move Higher (2017-3-13)
Mar 13, 2017 09:33Source:SMM
LME tin will keep fluctuating in a short term with resistance at USD 19,500/mt and support at USD 19,000/mt and SHFE 1705 tin will move at RMB 141,500-144,000/mt.
SHANGHAI, Mar. 13 (SMM) – LME tin will keep fluctuating in a short term with resistance at USD 19,500/mt and support at USD 19,000/mt. SHFE 1705 tin fluctuated around the 5-day moving average and increased slightly and met resistance at the 10-day moving average on last Friday’s night trading. The contract will keep rising momentum and move at RMB 141,500-144,000/mt on Monday.
In China’s domestic market, rallying SHFE 1705 tin will support spot tin price to rise. Spot tin should trade at RMB 142,500-144,000/mt on Monday.
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