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LME Tin to Set with Losses (2017-3-27)
Mar 27, 2017 09:28Source:SMM
LME tin will drop in a short term but will find support at USD 19,600/mt. SHFE 1705 tin will test support at RMB 145,000/mt on Monday.
SHANGHAI, Mar. 27 (SMM) – Attention should be on profits at China’s above scale industrial enterprises in Jan.-Feb. on Monday. LME tin will drop in a short term but will find support at USD 19,600/mt. SHFE 1705 tin declined sharply last Friday, down as low as RMB 144,000/mt. The contract will test support at RMB 145,000/mt on Monday. If SHFE 1705 tin falls below RMB 145,000/mt, it will drop to the previous lowest level at RMB 140,000/mt. SHFE 1705 tin will move at RMB 143,300--145,300/mt on Monday.
In China’s domestic market, spot tin should trade at RMB 143,000-145,000/mt on Monday.
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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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