SHANGHAI, Jun. 13 (SMM) –LME tin rebounded and will rise further to test resistance at USD 19,200/mt. SHFE 1709 tin met resistance at the 10-day and 40-day moving averages last night and will move mainly at RMB 141,000-142,500/mt today.
In Shanghai spot tin market, rising SHFE tin will push spot prices up, but plentiful supply will curb upside room. Mainstream traded prices are expected at RMB 139,000-141,000/mt.