SHANGHAI, Jun. 7 (SMM) –LME tin will meet resistance at USD 20,000/mt and fall to USD 19,300/mt if it fails to hold onto USD 19,700/mt. SHFE 1709 tin should move mainly between RMB 142,500-144,500/mt. Easing concerns over tin oversupply after Yunnan Tin group obtained approval for tin concentrate processing trade, together with liquidity injection by the PBOC will support SHFE tin.
In Shanghai spot tin market, rally in SHFE tin will lift mainstream traded prices to RMB 140,000-142,000/mt.