SHANGHAI, May 24 (SMM) – On Monday’s night trading, SHFE 1609 tin moved around RMB 105,200/mt after opening at RMB 104,860/mt. The contract once hit as low as RMB 104,230/mt on heavy short selling, but then rebounded as shorts exited and ended at RMB 105,500/mt.
On Tuesday, SHFE 1609 tin jumped to RMB 106,210/mt after starting at RMB 105,470/mt. But prices then fell back to RMB 105,600/mt due to profit-taking by longs. Finally, the most active contract ended at RMB 105,510/mt. Trading volumes were down 4,436 lots to 19,434 lots, and positions were down 246 to 12,114. The contract should move at highs tomorrow.