SHANGHAI, May 15 (SMM) –SHFE 1709 tin dipped to RMB 140,520/mrt during last Friday’s night session, and ended at RMB 140,820/mt.
On Monday, SHFE 1709 tin jumped to RMB 141,730/mt after opening at RMB 141,040/mt, but then quickly fell back to RMB 141,000/mt. The contract ended the day at RMB 141,600/mt. Trading volumes were up 3,236 lots to 17,118 lots, and positions were up 92 to 13,948. Most Chinese economic data for April missed forecast, which consumer goods retail sales, which were in line with forecast. This dampened market sentiment. SHFE 1709 tin is still under downward pressure and will test support at RMB 140,000/mt.