SHFE Tin to Hover at Lows (2017-5-11)

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)