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SHFE Tin Prices down 0.29% (2017-3-30)
Mar 30, 2017 17:10Source:SMM
SHFE 1705 tin declined below the moving average and ended at RMB 143,000/mt, down RMB 410/mt or 0.29%.
SHANGHAI, Mar. 29 (SMM) – SHFE 1705 tin fluctuated on Wednesday’s night trading but met resistance at the 5-day moving average before closing at RMB 143,710/mt.
On Thursday, SHFE 1705 tin declined below the moving average, hurt by positions opening by shorts, down as low as RMB 142,550/mt. The contract ended at RMB 143,000/mt, down RMB 410/mt or 0.29%. Trading volumes reduced 1,106 to 11,778 lots and positions increased 686 to 13,136.
There is a possibility for SHFE 1705 tin to decline again in a short term, and the contract will find support at RMB 140,000/mt.
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