SHANGHAI, Jun. 29 (SMM) –SHFE 1509 tin contract hit a session high of RMB 112,700/mt after opening at RMB 112,160/mt last Friday night. Finally, the contract ended the night session down RMB 140/mt or 0.12% at RMB 112,150/mt.
On Monday, SHFE 1509 tin contract fell to RMB 110,720/mt after opening at RMB 112,160/mt. The contract ended down RMB 840/mt or 0.75% at RMB 111,320/mt. Trading volumes were up 390 lots to 1,550 lots, and positions were up 464 lots to 1,996 lots. LME tin fell to USD 14,570/mt as talks over Greek debt issue ended in deadlock. This, together with the slump in China’s stock market, caused SHFE tin prices to drop. SHFE 1509 tin contract is expected to test support at RMB 110,000/mt in the short term.