SHFE 1701 Tin Closes Up (2016-9-28)

SHANGHAI, Sep. 28 (SMM) – Overnight, SHFE 1701 tin fell to RMB 126,230/mt after opening at RMB 127,330/mt, and ended at RMB 126,730/mt. 

On Wednesday, the most active contract jumped to RMB 127,740/mt after opening at RMB 126,700/mt. Finally, the contract ended up RMB 170/mt or 0.13% from previous trading day at RMB 127,500/mt. Trading volumes were down 3,304lots to 12,554 lots and positions were up 776 to 11,712. Investors exit from nonferrous metal market for safety before China’s National Day Holiday on Oct. 1-7 with RMB 420 million fund withdrawn from nonferrous market. SHFE 1701 tin will meet strong resistance at RMB 129,000/mt.