SHFE Tin Prices Up 2.40% (2016-12-27)

SHANGHAI, Dec. 27 (SMM) – SHFE 1701 tin fluctuated on Monday’s night trading and closed at RMB 141,270/mt.

On Tuesday, SHFE 1701 tin started at RMB 141,100/mt and then rallied slightly. The contract advanced to above the 5 and 20-day moving averages at the tail of trading and finally ended at RMB 144,950/mt, up RMB 3,400/mt or 2.40%. Trading volumes fell 10,314 to 7,808 lots and positions dropped 1,276 to 8,972. Trading volumes of SHFE 1705 tin was 6,124 lots with positions at 6,578. LME market kept closing on Tuesday for Christmas. Profits at China’s above-scale industrial enterprises expanded 9.4% YoY from January to November from 8.6% seen in October. SHFE 1701 tin stopped falling and rallied but met resistance at the 10 and 40-day moving averages.

SHFE 1701 tin will test the 10 and 40-day moving averages on Tuesday’s night trading.