SHFE Rebounds Significantly on Improved Market Sentiment (2016-1-5)

SHANGHAI, Jan. 5 (SMM) –SHFE 1605 tin opened at RMB 91,800/mt on Tuesday. The most active contract drifted higher, due to exit of shorts and entry of longs, but fell back slightly later as some longs took profit at highs. The contract then rebounded as longs entered again, and finally ended up RMB 1,290/mt or 1.41% at RMB 93,000/mt. Trading volumes were up 5,120 lots to 12,748 lots, and positions were up 70 to 5,546. Negative Caixin’s China manufacturing PMI has been digested.