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[Sn Price] SHFE Tin Tracks LME Tin Up (Jul. 28, 2015)
Jul 28, 2015 17:26Source:SMM
SHFE 1509 tin contract opened at RMB 108,900/mt on Tuesday.
SHANGHAI, Jul. 28 (SMM) –SHFE 1509 tin contract opened at RMB 108,900/mt on Tuesday. Rising LME tin prices prompted investors to cut bearish bets on the SHFE, allowing SHFE 1509 tin contract to rise and close at RMB 109,820/mt. The price rise of LME tin was due to positive technical side, and hopes for tightening supply from Indonesia amid pending new export regulations by the country. SHFE 1509 tin contract is expected to remain strong tonight. The contract will challenge resistance at RMB 111,500/mt if it succeeds in breaking through RMB 110,000/mt.
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