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SHFE Tin Closes with Gains (2017-1-4)
Jan 4, 2017 16:43Source:SMM
SHFE 1705 tin opened at RMB 149,880/mt and finally closed at RMB 150,720/mt, up RMB 970/mt or 0.65%.
SHANGHAI, Jan. 4 (SMM) – On Tuesday’s night trading, SHFE 1705 tin briefly increased to RMB 151,860/mt and then dropped before closing at RMB 149,410/mt.
On Wednesday, SHFE 1705 tin opened at RMB 149,880/mt and then kept falling momentum to RMB 148,420/mt. Later, the contract regained lost ground. During the afternoon trading, SHFE 1705 tin increased further with positions opening by longs and finally closed at RMB 150,720/mt, up RMB 970/mt or 0.65%.
SHFE 1705 tin will test resistance at RMB 151,000/mt on Wednesday’s night trading. If SHFE 1705 tin breaks through RMB 151,000/mt, it will challenge RMB 156,000/mt. Otherwise, SHFE 1705 tin will move with resistance from RMB 151,000/mt.
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