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Home / Metal News / SHFE Tin to Face Downward Pressure (2017-6-5)

SHFE Tin to Face Downward Pressure (2017-6-5)

iconJun 5, 2017 09:34
LME tin will face downward pressure and test support at USD 20,000/mt today due to poor US non-farm payrolls and risk aversion triggered by terrorist attack before election in the UK.

SHANGHAI, Jun. 5 (SMM) –LME tin will face downward pressure and test support at USD 20,000/mt today due to poor US non-farm payrolls and risk aversion triggered by terrorist attack before election in the UK. SHFE 1709 tin will head to RMB 140,000/mt if it fails to hold onto the 40-day moving average, and should move mainly between RMB 142,000-144,000/mt today.

In Shanghai spot tin market, weak SHFE tin and oversupply will send mainstream traded prices down to RMB 139,500-141,500/mt. 
Key Macroeconomic Indicators for Base Metal Prices (2017-6-5)
 

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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