SHANGHAI, Apr. 21 (SMM) – SHFE 1507 tin contract opened at RMB 111,840/mt on Tuesday. The most active contract touched day’s high of 111,880/mt and day’s low of RMB 111,100/mt before ending up RMB 110/mt at RMB 111,550/mt. Trading volumes decreased by 7,084 lots to 3,434 lots, while positions rose by 308 to 2,964.
LME tin hovered around its opening price during today’s Asian trading hours. Positive sentiment from China’s RRR cuts was offset by concerns over the country’s housing market. Land use in the property market fell nearly 40% in Q1, data from the MLR showed, raising concerns over metal demand in the real estate sector.