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SHFE Tin Prices Up 2.30% (2017-1-3)
Jan 3, 2017 19:55Source:SMM
SHFE 1705 tin started at RMB 147,380/mt and finally closed at RMB 150,270/mt, up RMB 3,380/mt or 2.30%.
SHANGHAI, Jan. 3 (SMM) – On Tuesday, SHFE 1705 tin started at RMB 147,380/mt and then advanced by 1.3% in 15 minutes after opening. The contract later surged to RMB 150,000/mt quickly and fluctuated at highs with the rise slowing down. During the afternoon trading, SHFE 1705 tin climbed to RMB 150,790/mt and finally closed at RMB 150,270/mt, up RMB 3,380/mt or 2.30%. Trading volumes increased 2,704 to 15,106 lots and positions rose 2,618 to 10,962.
Most nonferrous metals increased on Tuesday. China’s Caixin manufacturing PMI increased to 51.9 in December, the highest level since January 2013. The strong performance indicated a faster expansion in manufacturing at year-end, releasing market’s worry on demand in China’s market.
SHFE 1705 tin will keep testing RMB 151,000/mt on Tuesday’s night trading.
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