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SHFE 1701 Tin Ends with Big Gains (2016-11-22)
Nov 22, 2016 17:47Source:SMM
On Monday’s night trading, SHFE 1701 tin shot up to RMB 145,780/mt before quickly falling back to RMB 143,180/mt, and then followed other base metals up to RMB 146,200/mt.
SHANGHAI, Nov. 22 (SMM) – On Monday’s night trading, SHFE 1701 tin shot up to RMB 145,780/mt before quickly falling back to RMB 143,180/mt, and then followed other base metals up to RMB 146,200/mt.
On Tuesday, SHFE 1701 tin jumped to RMB 149,210/mt, but then fell back to below RMB 148,000/mt due to profit taking by longs. The most active contract ended up RMB 4,060/mt at RMB 147,450/mt. Trading volumes were down 658 lots to 30,884 lots and positions were up 164 lots to 15,794 lots. SHFE 1701 tin should fluctuate at highs of RMB 145,000-149,000/mt during today’s night session.
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