SHANGHAI, Nov. 4 (SMM) – On Thursday’s night trading, SHFE 1701 tin approached RMB 140,000/mt, and ended at RMB 139,660/mt.
On Friday, SHFE 1701 tin opened at RMB 139,800/mt, and hit a high of RMB 143,410/mt due to entry of longs. The most active contract ended up RMB 4,740/mt or 3.44% from previous trading day at RMB 142,710/mt. Ferrous metals prices recorded big gains, pushing up nonferrous metals prices as well. Recent economic data showed Chinese economy stabilized, boosting market sentiment. SHFE 1701 tin will challenge resistance at RMB 142,000-143,000/mt.