The Tin price on Malaysia Stock rose again in trading Friday (2/12). The Tin price increase positive sentiment pushed the increase in vehicle sales in China.
Today base metal rises an average of 0.8 per cent, driven by surprisingly strong sales of vehicles in China rose 7.7 per cent in January. This shook off worries a weakening ofstock markets at the beginning of the year.
This positive sentiment also strengthens the price of base metals in China. In Shanghai market, base metals rose on average 0.9 per cent.
The price of Tin in Malaysia commodity stock exchange observed increase today. This industrial metal prices traded at position 15600 dollars per ton, up by 50 dollars from the previous closing on 15550.
Forexchair estimated that Malaysia Tin price movements on the next trade potentiallyweakening economy worries limited with China, which in today's Asian exchangesclosed mostly in the red zone, including exchanges of China. The price is expected to face a level of Support in the position of 15400 15200 dollar and dollar. But if the price increase will face Resistance level in 15800 16000 dollar and dollar.
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