SHFE Tin Prices Up 2.57% (2017-4-6)

SHANGHAI, Apr. 6 (SMM) – On Wednesday’s night trading, SHFE 1705 tin remained rising momentum and fluctuated at RMB 144,500-145,000/mt before closing at RMB 145,000/mt.

On Thursday, SHFE 1705 tin started at RMB 144,580/mt and then fluctuated narrowly. During the afternoon trading, the contract climbed to RMB 146,800/mt at the tail of trading and closed at RMB 146,730/mt, up RMB 3,670/mt or 2.57%. Trading volumes increased 7,176 to 16,256 lots and positions rose 200 to 12,894. Attention should be on China’s Chairman Xi Jinping and US’s President Trump’s meeting on Thursday and US’s nonfarm payroll on Friday.

SHFE 1705 tin will test resistance at the 60-day moving average. If the contract breaks through the 60-day moving average, it will test the previous highest at RMB 150,000/mt.