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SHFE Tin Prices Up 3.24% (2016-12-1)
Dec 1, 2016 16:53Source:SMM
SHFE 1701 tin started at RMB 143,350/mt and finally ended at RMB 145,740/mt, up RMB 4,570/mt or 3.24%.
SHANGHAI, Dec. 1 (SMM) – On Wednesday’s night trading, SHFE 1701 tin mainly ranged between RMB 142,300-143,400/mt after opening higher and finally closed at RMB 142,780/mt.
On Thursday, SHFE 1701 tin started at RMB 143,350/mt and then kept fluctuating. The contract later entered rising track. During the afternoon trading, SHFE 1701 tin advanced to RMB 146,760/mt with falling positions. The contract finally ended at RMB 145,740/mt with resistance at the 20-day moving average, up RMB 4,570/mt or 3.24%. Trading volumes fell 670 to 27,626 lots and positions declined 340 to 14,244. Commodities increased across the board on Thursday and most base metals also rose, supported by China’s higher-expected manufacturing PMI in November.
SHFE 1701 tin will challenge the 20-day moving average and increase further on Thursday’s night trading.
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