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SHFE Tin to Face Downward Pressure (2017-5-24)
May 24, 2017 09:49Source:SMM
LME tin should meet resistance at USD 20,600/mt and test support at USD 20,300/mt today.
SHANGHAI, May 24 (SMM) –LME tin should meet resistance at USD 20,600/mt and test support at USD 20,300/mt today. SHFE 1709 tin hovered narrowly at highs during Tuesday’s night session, but may face downward pressure today, testing support at RMB 144,000/mt.
In Shanghai spot tin market, demand will be poor and mainstream traded prices are expected at RMB 141,500-143,000/mt.
Key Macroeconomic Indicators for Base Metal Prices (2017-5-24)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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