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SHFE 1609 Tin Closes with Big Loss (2016-8-25)
Aug 25, 2016 17:23Source:SMM
On Wednesday’s night trading, SHFE 1609 tin opened at RMB 124,610/m, and dived to RMB 121,980/mt before ending at RMB 122,660/mt.
SHANGHAI, Aug. 25 (SMM) – On Wednesday’s night trading, SHFE 1609 tin opened at RMB 124,610/m, and dived to RMB 121,980/mt before ending at RMB 122,660/mt.
On Thursday, SHFE 1609 tin fell to RMB 121,480/mt after opening at RMB 122,890/mt, and finally ended down RMB 1,510/mt or 1.22% at RMB 122,610/mt. Trading volumes were down 820 lots to 8,742 lots, and positions were down 686 to 7,860. The PBOC launched 14-day reverse repos on August 24, with bid rate unchanged from previous rate at 2.4%. This triggered speculation that the PBOC might not resort to interest rate or RRR cut in the near future.
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