LME Tin to Stay High (2017-3-16)

SHANGHAI, Mar. 16 (SMM) – Eyes should be on US’s economic data on Thursday, including new housing starts and initial jobless claim from the week ending March 10. LME tin will hover at highs on Thursday with resistance at USD 20,000/mt. SHFE 1705 tin fluctuated at around the 40-day moving average and met resistance at the 60-day moving average. The contract will move between RMB 145,000-147,200/mt on Thursday.

In China’s domestic market, spot tin should trade at RMB 145,000-147,000/mt on Thursday.