SHFE 1701 Tin Ends with Big Gains (2016-11-1)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Futures movement
  • Aluminium
  • Silicon
  • Inventory data
  • Prebaked anode
  • Copper
  • Lead
  • Evening comments
  • MMi Iron Ore Port Index
  • New Energy Vehicle
  • Nickel
  • NEV
  • Production data
  • Market commentary

SHFE 1701 Tin Ends with Big Gains (2016-11-1)

Price Review & Forecast 05:49:33PM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. 1 (SMM) – On Monday’s night trading, SHFE 1701 tin moved mainly between RMB 134,800-136,000/mt, and ended at RMB 135,350/mt. 

On Tuesday, SHFE 1701 tin opened at RMB 135,360/mt. China’s official and Caixin manufacturing PMIs both rose in October, pushing the most active contract up, but prices failed to break through RMB 136,000/mt. In the afternoon, prices jumped to RMB 138,140/mt on long buying, and finally ended up RMB 2,240/mt or 1.65% from previous trading day at RMB 137,600/mt. Trading volumes were up 9,658 lots to 27,244 lots and positions were up 654 to 19,692. 

China’s official and Caixin manufacturing PMIs were both at 51.2 in October, well beating forecast. SHFE 1701 tin might face technical downward corrections and test support at RMB 135,000/mt.  


 

Price

more
#1 Tin Ingot
Apr.19
146750.0
-500.0
(-0.34%)
Tin Concentrate-Yunnan
Apr.19
131500.0
-500.0
(-0.38%)
Tin Concentrate -Hunan
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Jiangxi
Apr.19
134750.0
-500.0
(-0.37%)
Tin Concentrate-Guangxi
Apr.19
134750.0
-500.0
(-0.37%)

SHFE 1701 Tin Ends with Big Gains (2016-11-1)

Price Review & Forecast 05:49:33PM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. 1 (SMM) – On Monday’s night trading, SHFE 1701 tin moved mainly between RMB 134,800-136,000/mt, and ended at RMB 135,350/mt. 

On Tuesday, SHFE 1701 tin opened at RMB 135,360/mt. China’s official and Caixin manufacturing PMIs both rose in October, pushing the most active contract up, but prices failed to break through RMB 136,000/mt. In the afternoon, prices jumped to RMB 138,140/mt on long buying, and finally ended up RMB 2,240/mt or 1.65% from previous trading day at RMB 137,600/mt. Trading volumes were up 9,658 lots to 27,244 lots and positions were up 654 to 19,692. 

China’s official and Caixin manufacturing PMIs were both at 51.2 in October, well beating forecast. SHFE 1701 tin might face technical downward corrections and test support at RMB 135,000/mt.