SHANGHAI, May 16 (SMM) – On last Friday’s night trading, SHFE 1609 tin rose to RMB 108,000/mt after opening at RMB 107,200/mt, and closed at RMB 108,100/mt.
On Monday, exit of longs sent SHFE 1609 tin down to RMB 107,230/mt after starting at RMB 107,970/mt. The most active contract then rallied to RMB 108,670/mt, and closed up RMB 360/mt at RMB 107,860/mt. Trading volumes were down 11,758 lots to 22,214 lots, and positions were down 358 to 11,836. SHFE 1609 tin is expected to test support at RMB 106,500/mt.
SHFE 1605 finished delivery today, with settlement price at 107,300/mt. Positions were 7,980 lots, and delivery volumes were 4,087 mt, with 2,182 mt in Shanghai, 438 mt in Guangdong, and 1,467 mt in Jiangsu.