SHANGHAI, Nov. 17 (SMM) – On Wednesday’s night trading, SHFE 1701 tin plumped below the 20-day moving average, hurt by growing short strength, and finally ended at RMB 142,260/mt.
On Thursday, SHFE 1701 tin opened at RMB 142,010/mt and then fluctuated at around RMB 141,800/mt. During the afternoon trading, SHFE 1701 tin advanced to RMB 143,110/mt briefly and then declined to RMB 141,240/mt. The contract finally closed at RMB 141,520/mt, down RMB 3,160/mt or 2.18%. Trading volumes fell 722 to 24,414 lots and positions decreased 400 to 16,284. Commodities dropped across the board on Thursday in China’s market.
SHFE 1701 tin will test support at RMB 141,000/mt on Thursday’s night trading.