SHANGHAI, Apr. 19 (SMM) – LME tin lost support at USD 17,000/mt and should look for floor at USD 16,700/mt on Tuesday.
SHFE 1605 tin was supported by exit of shorts, and should move at RMB 110,000-112,000/mt today.
In Shanghai spot tin market, smelters have shown low selling interest, leaving supply limited. Market confidence will restore as SHFE tin stopped falling overnight. Mainstream traded prices are expected at RMB 111,500-112,500/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-19)