SHANGHAI, Jun. 18 (SMM) – SHFE 1507 tin contract prices started at RMB 111,990/mt Tuesday night and touched a low of RMB 111,210/mt after a number of shorts entered the markets. But the prices then regained some losses and end the night session at RMB 111,700/mt, down RMB 290/mt.
The most active SHFE tin contract opened at RMB 111,550/mt early Wednesday and rose to RMB 112,240/mt at one point. The prices then edged lower with investors booking profits and closed at RMB 111,730/mt, down RMB 50/mt. Positions declined to 1,016 and trading volumes fell by 94 lots to 3,574 lots.
Spot tin prices were RMB 112,000-113,000/mt on Wednesday. Cheaper goods, such as Nanshan and Jinlong brands, were rarely seen in the market. Yunnan Tin’s goods traded at RMB 112,800-113,200/mt.