SHANGHAI, Apr. 13 (SMM) – SHFE 1507 tin contract touched a session low of RMB 115,320/mt last Thursday night as investors opened about 1,000 short positions. The most active contract ended Thursday down RMB 1,830/mt on a weekly basis at RMB 116,790/mt.
In Shanghai spot tin market, prices moved all the way down, especially Thursday and Friday. Mainstream traded prices dropped to RMB 114,000-115,500/mt last Friday. The price decline was due to growing supply of cheap goods from Jiangxi and price cuts by large smelters.