SHANGHAI, Nov. 7 (SMM) – Last Friday’s night trading, SHFE 1701 tin hit a high of RMB 144,540/mt, and ended at RMB 143,990/mt.
On Monday, SHFE 1701 tin opened at RMB 143,610/mt, and followed LME tin up to hit its daily upside limit, closing up 4.99% at RMB 147,400/mt. Trading volumes were down 6,564 lots to 36,322 lots, and positions were up 6 lots to 21,304 lots. The US dollar index hit a four-week low due to strong risk aversion before US presidential election. Yuan’s depreciation boosted domestic commodity market. SHFE 1701 tin will challenge RMB 150,000/mt.