SHANGHAI, Apr. 28 (SMM) – SHFE 1507 tin contract rose above the 10-day moving average. The most active contract gained less favor as its price spread with LME tin narrowed. Both longs and shorts exited the market.
Tin prices in Shanghai spot market fell early in the week, but began to rebound Wednesday afternoon. LME tin prices rose, and downstream producers needed to restock after holding to the sidelines for days, driving spot tin prices up to RMB 111,000-112,500/mt. However, prices stopped rising last Friday as demand cooled.