SHANGHAI, Sept. 1 (SMM) – Trading was extremely thin for SHFE 1509 tin on Tuesday. Trading volumes were a mere 76 lots, down 614 lots. Positions were down 36 lots to 880 lots. The contract hovered around RMB 100,000/mt, and finally ended up RMB 320/mt or 0.32% at RMB 99,820/mt.
China’s official manufacturing PMI was 49.7 in August, the lowest since August 2012 and first retreat below 50 in six months. Caixin’s final China manufacturing PMI was 47.3, the lowest since March 2009. Both figures jittered market, which will leave SHFE 1509 tin vulnerable at RMB 98,000/mt tonight.