SHANGHAI, Jun. 10 (SMM) – SHFE 1507 tin contract moved higher after opening at RMB 115,340/mt on Tuesday night, but then fell back. On Wednesday, the contract moved between RMB 114,840-115,300/mt for most of the day, but rose sharply at the tail of the day due to exit of shorts before ending at RMB 115,440/mt.
LME tin touched a session high of USD 15,395/mt during today’s Asian trading hours due to a soft US dollar. A raft of Chinese economic data will be released on Thursday afternoon, including industrial, investment and consumption data. These data will provide guidance as to whether the government will unleash more stimulus measures to boost economic growth.