SHANGHAI, May. 4 (SMM) –SHFE 1507 tin contract soared to RMB 117,960/mt last Monday as bulls jumped in, but began to fall back the next day. The most active contract closed last Wednesday at RMB 115,370/mt, up RMB 2,430/mt from a week ago.
In China’s spot market, prices followed SHFE tin up. Mainstream traded prices were RMB 115,000-117,000/mt last Wednesday. Rising LME and SHFE tin cheered market up, luring downstream producers to step up purchases. However, demand cooled after SHFE tin fell back. Spot prices stabilized last Wednesday.