The price of Tin in Malaysia stock exchange weakened on the trade Tuesday (29/03).The Tin price fall triggered a strengthening u.s. dollar and weakening the ShanghaiStock Exchange.
After commodity prices rebounded Monday on trading yesterday due to the weakening of the u.s. dollar because of disappointing u.s. economic data, then on this daythe u.s. dollar starting stirring ride ahead of the U.S. Fed officials's comments today.
The u.s. dollar strengthened against a basket of currencies this afternoon, either against the Yen, the pound sterling, the Euro as well. The index tracked the u.s. dollar strengthened 0.06 percent at 96.05.
The rise in the u.s. dollar makes the price of Tin is traded in the currency the u.s. dollar will be more expensive, thus lowering the demand for base metals commodities.
See: the price of Tin Dropped March 28, Stressed the strengthening of the U.s. Dollar
Who also pressed Tin price this afternoon is a drop in the Shanghai Stock Exchange.Shanghai Stock Exchange observed this afternoon were in the red zone, down 1.14% at 2924.10. The Shanghai Stock Exchange triggered worries of weakening demand for commodities from the country's biggest consumers of precious metals.
The price of Tin in Malaysia commodity stock exchange observed decline today. This industrial metal prices traded at position 17150 dollars per tonne, down by 150 dollars from the previous closing on 17300.
www.Yessnews.com estimated that Malaysia Tin price movement on a potentially weakened further limited trade with the potential strengthening of the u.s. dollar and worries China. Price will face the support level at position 16850 16550 dollar and dollar. But if the rebound and rose, the price of Tin will face resistance level in dollar and 17450 17750 dollars.
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