SHANGHAI, May 3 (SMM) –LME tin will hover at highs and test resistance at USD 20,000/mt. SHFE 1709 tin hovered around the 40-day moving average during Tuesday’s night session, and will face pressure in the short term, with price range expected at RMB 142,500-145,000/mt today.
In Shanghai spot tin market, spot prices followed futures prices up previously, but downstream producers watched from the sidelines. SHFE tin is now meeting resistance. So, mainstream traded prices might fall to RMB 142,000-144,000/mt today.
Key Macroeconomic Indicators for Base Metal Prices (2017-5-3)
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