SHFE 1605 Tin Shoots Up (2016-4-21)

Apr 21, 2016 17:34

Source:SMM

On Wednesday’s night trading, SHFE 1605 tin mainly moved between RMB 111,200-112,000/mt after opening at RMB 112,370/mt.

SHANGHAI, Apr. 21 (SMM) – On Wednesday’s night trading, SHFE 1605 tin mainly moved between RMB 111,200-112,000/mt after opening at RMB 112,370/mt. The contract fell to RMB 110,790/mt later on short selling, and ended at RMB 111,260/mt.

On Thursday, SHFE 1605 tin opened at RMB 111,380/mt. Prices shot up to RMB 114,600/mt, due to entry of longs and exit of shorts, finally ending the day up RMB 2,960/mt or 2.66% at RMB 114,400/mt. Trading volumes were up 1,706 lots to 20,964 lots, and positions were up 272 to 12,988.

China housing market recovery and low steel stocks gave strong boost to ferrous metals prices, in turn benefitting base metals prices. Ample supply and weak demand in domestic tin market will put pressure on tin prices.

Sn price

tin prices

SHFE tin prices

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SHFE 1605 Tin Shoots Up (2016-4-21)

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