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SHFE Tin to Test Support from 60-day Moving Average (2017-7-10)
Jul 10, 2017 10:04Source:SMM
LME tin will move sideways, meeting resistance from USD 20,200/mt and USD 19,500/mt SHFE tin plunged last Friday evening, and closed around the 60-day moving average.
SHANGHAI, Jul. 10 (SMM) – LME tin will move sideways, meeting resistance from USD 20,200/mt and USD 19,500/mt SHFE tin plunged last Friday evening, and closed around the 60-day moving average. Prices will test support from this level, and will fall to RMB 141,000/mt once falling below this level. SHFE tin will move between RMB 142,000-144,000/mt today. Spot prices will be dragged down, and will fluctuate between RMB 140,000-142,500/mt, supported by supply tightness of Yunxi tin.
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