SHANGHAI, Nov. 11 (SMM) – On Thursday’s night trading, SHFE 1701 tin fell as the SHFE decided to hike trading margin ratio for tin futures contract and ended at RMB 151,350/mt.
On Friday, SHFE 1701 tin opened at RMB 151,300/mt, and fell to RMB 150,250/mt. But, the most active contract then regained lost ground and ended down RMB 720/mt or 0.47% from previous trading day at RMB 152,980/mt. Trading volumes were down 33,780 lots to 41,616 lots, and positions were down 822 lots to 20,550 lots. SHFE 1701 tin should hover at highs and challenge resistance at RMB 155,000/mt during the night session.