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SHFE 1609 Tin Extends Declines (2016-7-6)
Jul 6, 2016 17:54Source:SMM
On Tuesday’s night trading, SHFE 1609 tin fell to RMB 115,800/mt after opening at RMB 121,280/mt, and ended at RMB 116,750/mt.
SHANGHAI, Jul. 6 (SMM) – On Tuesday’s night trading, SHFE 1609 tin fell to RMB 115,800/mt after opening at RMB 121,280/mt, and ended at RMB 116,750/mt.
On Wednesday, the most active contract hovered around opening price after opening at RMB 116,430/mt. Dip-buying pushed prices up to RMB 118,000/mt in the afternoon, and it finally ended down RMB 3,060/mt or 2.54% at RMB 117,270/mt. Trading volumes were down 16,070 lots to 45,218 lots, and positions were down 1,156 to 14,662. SHFE 1609 tin will test support at RMB 115,000/mt and resistance at RMB 118,000/mt.
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