SHFE Tin to Fall further (2017-6-6)-Shanghai Metals Market

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SHFE Tin to Fall further (2017-6-6)

Price Review & Forecast 09:39:48AM Jun 06, 2017 Source:SMM

SHANGHAI, Jun. 6 (SMM) –LME tin will face downward pressure and test support at USD 20,000/mt today. SHFE 1709 tin rebounded after falling at first during Monday’s night session, but will remain under downward pressure in the short term. The contract should move mainly between RMB 141,000-143,000/mt today.

In Shanghai spot tin market, weak SHFE tin and supply glut will send mainstream traded prices down further to RMB 139,000-141,000/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2017-6-6)

 

SHFE Tin to Fall further (2017-6-6)

Price Review & Forecast 09:39:48AM Jun 06, 2017 Source:SMM

SHANGHAI, Jun. 6 (SMM) –LME tin will face downward pressure and test support at USD 20,000/mt today. SHFE 1709 tin rebounded after falling at first during Monday’s night session, but will remain under downward pressure in the short term. The contract should move mainly between RMB 141,000-143,000/mt today.

In Shanghai spot tin market, weak SHFE tin and supply glut will send mainstream traded prices down further to RMB 139,000-141,000/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2017-6-6)