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Shanghai Tin Prices to Face Pressure (2017-9-25)
Sep 25, 2017 09:57LME tin will find support at USD 20,400/mt and resistance at USD 20,900/mt today.
SHANGHAI, Sept. 25 (SMM) –LME tin will find support at USD 20,400/mt and resistance at USD 20,900/mt today. Market will digest the US Fed’s plan to cut balance sheet and growing intentions between the US and North Korea. SHFE 1801 tin fell after a high opening during last Friday’s night session, and should move mainly within RMB 143,500-145,500/mt today.
In Shanghai spot market, spot prices will face pressure from weak SHFE tin. Pre-holiday stocking is expected. Mainstream traded prices will be RMB 142,000-143,500/mt.
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base metal price forecast
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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