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Home / Metal News / LME Tin to Face Technical Corrections (2017-8-1)

LME Tin to Face Technical Corrections (2017-8-1)

Aug 1, 2017 09:33

Source:SMM

LME tin, which has been closing with gains for ten consecutive trading days, will face corrections in the short term and test support at USD 20,500/mt today.

SHANGHAI, Aug. 1 (SMM) –LME tin, which has been closing with gains for ten consecutive trading days, will face corrections in the short term and test support at USD 20,500/mt today. SHFE 1709 tin should move mainly at RMB 149,000-150,000/mt today.

In Shanghai spot tin market, spot prices will face pressure from weak SHFE tin, but will find support from limited supply of Yunxi brand tin and other brands. Mainstream traded prices are expected at RMB 147,500-150,000/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2017-8-1)

LME tin prices

SHFE tin prices

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LME Tin to Face Technical Corrections (2017-8-1)

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