SHANGHAI, Apr. 24 (SMM) – LME tin will trade in a tight range of USD 19,700-20,100/mt. SHFE 1705 tin hit a low of RMB 136,860/mt during last Friday’s night session and closed at below RMB 138,000/mt. The contract should drop further to RMB 137,000-139,000/mt today, testing support at RMB 135,000/mt.
In Shanghai spot tin market, falling futures prices will drag spot prices down to RMB 138,000-140,000/mt.