SHFE 1609 Tin Ends with Big Loss (2016-6-29)

SHANGHAI, Jun. 29 (SMM) – On Tuesday’s night trading, SHFE 1609 tin tumbled to RMB 112,150/mt after opening at RMB 113,100/mt, and closed at RMB 112,200/mt. 

On Wednesday, SHFE 1609 tin started at RMB 112,500/mt, and touched an intraday low of RMB 111,010/mt in the afternoon as investors cut bullish bets. The most active contract ended down RMB 970/mt or 0.86% from previous trading day at RMB 111,630/mt. Trading volumes were up 8,160 lots to 20,096 lots, and positions were down 308 to 12,188. Ferrous metals prices held firm today, and nonferrous metals gained a lot of favor from investors. SHFE 1609 tin will test support at RMB 110,000/mt.