The price of Tin in Malaysia commodity stock exchange down on trading session thisThursday (14/01). The Tin price drop triggered worries the weakening demand forcommodities lead.
With still ups and downs of China's stock had plummeted several times, creatingworries against China, as a large consumer of base metals in the world, certainly makethe Tin market worry about the State of the request will be declined.
Likewise, a weakening of crude oil continued to put pressure on global economy. The price of crude oil WTI and Brent, alternately had reached the lowest position below $30 a barrel.
Tin exports this year from 70154 tonnes, Indonesia is the position of the lower six years specified by 2015, said Chairman of the Association of Exporters of lead Indonesia, Jabin Sufianto.
The price of Tin in Malaysia commodity stock exchange observed decline. Industrial metal prices are traded on the position of 13300 dollars per ton, down significantly of 150 dollars.
We estimate that Malaysia Tin price movements on the next trade for the short-termwill be potentially weakened over the strengthening dollar with the rise in U.S. interest rates and weak demand. The Tin price will try to move to penetrate the Support level in the position of the dollar and the dollar 12900 13100. But if it turned the rebound will face Resistance level at 13500 dollar and dollar 13700.
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