SHANGHAI, May 3 (SMM) –SHFE 1709 tin fell slightly during Tuesday’s night session and closed at RMB 143,730/mt.
SHFE 1709 tin opened at RMB 143,510/mt on Wednesday, hitting a low of RMB 142,840/mt. Finally, the most active contract ended down RMB 1,740/mt or 1.20% at RMB 142,960/mt. Trading volumes were up 2,438 lots to 12,948 lots, and positions were up 48 to 11,418. Caixin’s China manufacturing PMI fell to 7-month low in April. PPI rose slower. As such, manufacturing sector will face downward pressure in Q2. SHFE 1709 tin will drop to RMB 141,500/mt if it fails to hold onto the 20-day moving average.