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SHFE Tin to Face Downward Pressure (2017-5-17)
May 17, 2017 09:34Source:SMM
SHFE 1709 tin traded in tight range overnight and should move between RMB 140,000-143,000/mt today.
SHANGHAI, May 17 (SMM) –SHFE 1709 tin traded in tight range overnight and should move between RMB 140,000-143,000/mt today. Falling LME tin stocks should offer some support to LME tin prices, with resistance at the 40-day moving average.
In Shanghai spot tin market, inflows of deliverable goods will add to market supply. When combined with weak demand, spot discounts will remain. Mainstream traded prices are expected at RMB 138,000-140,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2017-5-17)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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