SHANGHAI, Jul. 14 (SMM) –On Monday, SHFE 1509 tin contract opened at RMB 107,780/mt, and hovered around RMB 107,470/mt for most of the day. Finally, the contract ended down RMB 310/mt or 0.29% at RMB 107,530/mt. The most active SHFE tin contract is expected to test support at RMB 106,000/mt and meet resistance at RMB 111,000/mt in the short term.
In Shanghai spot tin market, spot prices stabilized at RMB 111,000-113,000/mt on July 13. Supply was tight due to upcoming delivery of SHFE front-month tin contract. Trading was thin. Goods from Yunnan Tin Group traded at RMB 112,500-113,000/mt.