SHANGHAI, Dec. 16 (SMM) –SHFE 1601 tin opened at RMB 88,570/mt on Wednesday, and moved higher on short-covering after starting the day. The most active contract moved in tight ranges for most of the day, and rose slightly before the day’s close. Finally, the contract ended up RMB 560/mt or 0.63% at RMB 89,380/mt. Trading volumes were down 1,296 lots to 1,272 lots, and positions were down 122 to 3,820. Risk aversion ruled the market before the result of the US Fed’s policy meeting