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LME Tin to Face Downward Pressure (2017-4-12)
Apr 12, 2017 09:26Source:SMM
LME tin will find support at USD 19,600/mt and SHFE 1705 tin will move at RMB 141,500-143,500/mt.
SHANGHAI, Apr. 12 (SMM) – LME tin rallied from lows on Tuesday’s night trading but will meet downward pressure for the near term. The contract will find support at USD 19,600/mt. SHFE 1705 tin declined further on Tuesday’s night trading and touched RMB 140,000/mt but finally closed above RMB 141,600/mt. SHFE 1705 tin will keep testing RMB 141,600/mt on Wednesday and will move at RMB 141,500-143,500/mt.
In China’s domestic market, spot tin should trade at RMB 141,000-143,000/mt on Wednesday.
SHFE tin
LEM tin
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