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SHFE Tin Ends Down RMB 3,400/mt (Aug. 24, 2015)
Aug 24, 2015 17:35Source:SMM
Market continued to digest poor Caixin flash China manufacturing PMI, which hit the lowest since March 2009 in August.
SHANGHAI, Aug. 24 (SMM) – Market continued to digest poor Caixin flash China manufacturing PMI, which hit the lowest since March 2009 in August. As a result, SHFE 1509 tin plunged to RMB 102,830/mt shortly after opening at RMB 104,630/mt. The contract fell further to RMB 102,000/mt in the afternoon, and ended down RMB 3,400/mt or 3.23% at RMB 101,980/mt. Trading volumes were up 646 lots to 1,358 lots, and positions were down 24 lots to 1,264 lots. SHFE 1509 tin might be vulnerable at RMB 100,000/mt tonight.
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