SHANGHAI, May 4 (SMM) –SHFE 1709 tin went down after a low opening last night, moving mainly between the 10-day and 20-day moving averages and closing at RMB 142,210/mt.
On Thursday, SHFE 1709 tin opened at RMB 142,140/mt and sank to RMB 140,640/mt. Finally, the most active contract ended down RMB 2,050/mt or 1.43% at RMB 141,580/mt. Trading volumes were up 3,978 lots to 16,926 lots, and positions were up 794 to 12,212. Domestic commodity market suffered broad slump, while SHFE tin suffered relatively smaller losses. SHFE 1709 tin is still under downward pressure due to negative sentiment in other markets.