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LME Tin to Stay Range-Bound (2017-4-6)
Apr 6, 2017 09:49Source:SMM
LME tin will keep fluctuating in a short term and will meet resistance at USD 20,250/mt. SHFE 1705 tin will move at RMB 143,500-146,000/mt on Thursday.
SHANGHAI, Apr. 6 (SMM) – According to US Federal Reserve’s March monetary policy minutes, Fed is expected to cut USD 4.5 trillion of balance sheet late the year, but the speed and reduction level are unclear yet. LME tin will keep fluctuating in a short term and will meet resistance at USD 20,250/mt. SHFE 1705 tin kept rising momentum on Wednesday’s night trading and closed at RMB 145,000/mt. The contract will move at RMB 143,500-146,000/mt on Thursday.
In China’s domestic market, spot tin should trade at RMB 142,000-144,500/mt on Thursday.
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