SHANGHAI, Nov. 3 (SMM) – On Wednesday’s night trading, SHFE 1701 tin moved higher thanks to long buying, and ended at RMB 136,250/mt.
On Thursday, SHFE 1701 tin opened at RMB 136,100/mt, and hit a high of RMB 138,130/mt due to entry of longs. The most active contract ended up RMB 2,290/mt or 1.69% from previous trading day at RMB 137,970/mt. Trading volumes were down 7,236 lots to 13,188 lots and positions were up 438 to 18,790. Tight tin supply offered strong support to tin prices. SHFE 1701 tin should head toward RMB 140,000/mt.