SHFE 1701 Tin Falls Back After Big Gains (2016-11-21)-Shanghai Metals Market

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SHFE 1701 Tin Falls Back After Big Gains (2016-11-21)

Price Review & Forecast 05:06:22PM Nov 21, 2016 Source:SMM

SHANGHAI, Nov. 21 (SMM) – On last Friday’s night trading, SHFE 1701 tin climbed to RMB 141,780/mt after opening at RMB 141,500/mt. But prices then followed ferrous metals prices down to RMB 138,500/mt, ended at RMB 139,570/mt.  

On Monday, SHFE 1701 tin shot up to RMB 145,070/mt on short covering, but erased some gains later in the day, ending at RMB 143,390/mt. Trading volumes were up 2,712 lots to 31,542 lots and positions were down 838 lots to 15,630 lots. SHFE 1701 tin has found support at the 20-day moving average, but has met strong resistance at the 10-day moving average. 



 

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SHFE 1701 Tin Falls Back After Big Gains (2016-11-21)

Price Review & Forecast 05:06:22PM Nov 21, 2016 Source:SMM

SHANGHAI, Nov. 21 (SMM) – On last Friday’s night trading, SHFE 1701 tin climbed to RMB 141,780/mt after opening at RMB 141,500/mt. But prices then followed ferrous metals prices down to RMB 138,500/mt, ended at RMB 139,570/mt.  

On Monday, SHFE 1701 tin shot up to RMB 145,070/mt on short covering, but erased some gains later in the day, ending at RMB 143,390/mt. Trading volumes were up 2,712 lots to 31,542 lots and positions were down 838 lots to 15,630 lots. SHFE 1701 tin has found support at the 20-day moving average, but has met strong resistance at the 10-day moving average.