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SHFE Tin to Hover at Lows (2017-5-11)
May 11, 2017 09:38LME tin will move between USD 19,600-19,800/mt, with support at the 5-day moving average and seeking to break through the 20-day moving average.
SHANGHAI, May 11 (SMM) –LME tin will move between USD 19,600-19,800/mt, with support at the 5-day moving average and seeking to break through the 20-day moving average. During Wednesday’s night session, SHFE 1709 tin rose to RMB 141,870/mt before falling back to RMB 140,050/mt and ended at RMB 140,690/mt. The contract should range RMB 140,000-142,000/mt today.
In Shanghai spot tin market, supply of cheap goods will be tight. Mainstream traded prices are expected at RMB 138,700-140,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2017-5-11)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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