SHFE 1709 Tin Rebounds on Dip Buying (2017-5-9)

SHANGHAI, May 9 (SMM) –SHFE 1709 tin stabilized around RMB 140,000/mt during Monday’s night session, and ended at RMB 140,500/mt. 

On Tuesday, SHFE 1709 tin jumped to RMB 141,500/mt after opening at RMB 140,750/mt. The contract rose further to RMB 142,120/mt in the afternoon, and ended up RMB 1,200/mt or 0.85% at RMB 141,870/mt. Trading volumes were down 1,250 lots to 16,882 lots, and positions were up 348 to 13,698. SHFE 1709 tin broke through the 20-day moving average and will challenge the 40-day moving average.