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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.
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