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LME Tin to Face Downward Pressure (2017-5-9)
May 9, 2017 09:30Source:SMM
Market will eye a series of Chinese economic data today.
SHANGHAI, May 9 (SMM) –Market will eye a series of Chinese economic data today. LME tin will drop to USD 19,300/mt. SHFE 1709 tin stabilized around RMB 140,000/mt during Monday’s night session, but downward pressure remains. The contract should range RMB 139,000-141,500/mt today.
In Shanghai spot tin market, weak SHFE tin will push mainstream traded prices down to RMB 138,000-140,500/mt today.
Key Macroeconomic Indicators for Base Metal Prices (2017-5-9)
LME tin prices
SHFE tin prices
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base metal price forecast
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