SHANGHAI, May 18 (SMM) –SHFE 1709 tin jumped to RMB 144,320/mt during Wednesday’s night session on the back of long buying, and ended at RMB 144,080/mt.
On Thursday, SHFE 1709 tin hit a low of RMB 143,000/mt after opening at RMB 143,700/mt as some longs took profit. The most active contract then rebounded and ended the day up RMB 1,890/mt or 1.33% at RMB 143,960/mt. Trading volumes were down 972 lots to 19,490 lots, and positions were up 802 lots to 16,150 lots. SHFE 1709 tin will rise further if it is able to break through previous high of RMB 145,700/mt, but will fall back if it fails to do so.