SHANGHAI, Jul. 13 (SMM) –Last Friday, SHFE 1509 tin contract opened at RMB 109,420/mt, and hovered around RMB 108,970/mt for most of the day. The contract fell slightly at the tail of the day as longs exited, and ended up RMB 40/mt or 0.04% at RMB 107,840/mt. Trading volumes were up 418 lots to 3,844 lots, and positions were up 240 to 2,666. The contract should meet resistance at RMB 111,000/mt tonight.
In Shanghai spot tin market, spot prices rose to RMB 111,000-113,000/mt on July 10. Supply was tight. Trading cooled a little. Goods from Yunnan Tin Group were offered at RMB 113,000/mt.