SHANGHAI, Jan. 16 (SMM) – SHFE 1705 tin increased slightly last Friday thanks to positions closing by shorts, up to as high as RMB 152,380/mt, and finally closed at RMB 151,320/mt.

On Monday, SHFE 1705 tin opened at RMB 151,540/mt and then dropped before finally closed at RMB 150,280/mt, up RMB 670/mt or 0.45%. Trading volumes fell 1,446 to 16,638 lots and positions dropped 550 to 13,032. Attention should be on Trump’s inaugural address this Friday.

Settlement price of SHFE 1701 tin was RMB 150,000/mt with delivery volumes at 2,824 and positions at 5,648. The delivery goods will weigh down spot prices in the second half of the week.