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

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

Price Review & Forecast 09:34:03AM Jun 05, 2017 Source:SMM

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)
 

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

Price Review & Forecast 09:34:03AM Jun 05, 2017 Source:SMM

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)