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SHFE Tin Ends with Big Loss (2016-3-28)
Mar 28, 2016 17:16Source:SMM
Investors slashed bullish bets on SHFE tin, and ferrous metals prices tumbled, sending SHFE 1605 tin all the way down to RMB 108,210/mt on Monday.
SHANGHAI, Mar. 28 (SMM) – Investors slashed bullish bets on SHFE tin, and ferrous metals prices tumbled, sending SHFE 1605 tin all the way down to RMB 108,210/mt on Monday. The most active contract ended the day down RMB 3,420/mt at RMB 108,600/mt. Trading volumes were down 16,718 lots to 40,490 lots, and positions were down 1,310 to 16,618. Shorts did not enter aggressively, so prices are likely to claw back some losses during today’s night session and move at RMB 108,500-112,000/mt.
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