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SHFE 1609 Tin Ends with Big Gains (2016-7-4)
Jul 4, 2016 17:35Source:SMM
On last Friday’s night trading, SHFE 1609 tin jumped to RMB 122,070/mt after opening at RMB 119,000/mt, and ended at RMB 121,100/mt.
SHANGHAI, Jul. 4 (SMM) – On last Friday’s night trading, SHFE 1609 tin jumped to RMB 122,070/mt after opening at RMB 119,000/mt, and ended at RMB 121,100/mt.
On Monday, the most active contract advanced further to RMB 124,000/mt after opening at RMB 120,960/mt. Finally, the contract ended up RMB 4,770/mt or 4.04% at RMB 122,770/mt. Trading volumes were up 24,428 lots to 58,638 lots, and positions were down 1,140 to 16,964. A weaker US dollar and expectations for stimulus measures from the Chinese government drove big gains in base metals prices. SHFE 1609 tin will challenge resistance at RMB 124,000-125,000/mt.
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