SHFE 1709 Tin Rebounds on Long Buying (2017-5-11)

SHANGHAI, May 11 (SMM) –SHFE 1709 tin climbed to RMB 141,870/mrt after opening at RMB 141,510/mt during Wednesday’s night session, but then fell back to RMB 140,050/mt. Finally, the contract ended at RMB 140,690/mt. 

On Thursday, SHFE 1709 tin jumped to RMB 141,500/mt after opening at RMB 140,490/mt. The contract fell back later, but then rebounded on long buying, ending at an intraday high of RMB 142,250/mt, up RMB 450/mt or 0.32%. Trading volumes were up 4,240 lots to 17,502 lots, and positions were up 484 to 13,986. SHFE 1709 tin should challenge RMB 142,500/mt during today’s night session, with solid support at RMB 141,000/mt.