LME Tin to Face Growing Downward Pressure (2017-5-25)

SHANGHAI, May 25 (SMM) –LME tin should face further downward pressure and test support at USD 20,000/mt. SHFE 1709 tin moved between the 5-day and 60-day moving averages during Wednesday’s night session, and should fall to RMB 143,500-145,000/mt today.

In Shanghai spot tin market, the pullback in SHFE tin will help narrow spot discounts. Poor demand will send mainstream traded prices down to RMB 140,500-142,000/mt. 

Key Macroeconomic Indicators for Base Metal Prices (2017-5-25)