SHANGHAI, Oct. 18 (SMM) –LME tin will fall further to USD 20,200-20,650/mt today on negative technical side. SHFE 1801 tin was dragged down by LME tin to RMB 145,640/mt during Tuesday’s night session, but fell slower than LME tin due to tight supply of cheap goods in domestic spot market. The contract should drop further to RMB 145,000-147,000/mt today.
In Shanghai spot market, some downstream producers will go bargain hunting. Mainstream traded prices will be RMB 143,000-145,000/mt today. Spot discounts will narrow further due to lower SHFE tin.