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SHFE Tin to Face Downward Pressure (2017-8-15)
Aug 15, 2017 09:42Source:SMM
LME tin will test support at USD 20,200/mt and resistance at USD 20,500/mt today.
SHANGHAI, Aug. 15 (SMM) –LME tin will test support at USD 20,200/mt and resistance at USD 20,500/mt today. SHFE 1709 tin touched a low of RMB 143,000/mt overnight. The contract will head to RMB 141,000/mt if it fails to hold onto RMB 143,000/mt, and should move mainly at RMB 143,000-145,000/mt today.
In Shanghai spot tin market, weak SHFE tin and wait-and-see sentiment will push mainstream traded prices down to RMB 144,500-145,500/mt today.
Key Macroeconomic Indicators for Base Metal Prices (2017-8-15)
LME tin prices
SHFE tin prices
tin prices
Sn price
base metal price forecast
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