SHFE 1709 Tin Ends with Big Decline (2017-5-23)

SHANGHAI, May 23 (SMM) –SHFE 1709 tin hovered narrowly at highs during Monday’s night session, and ended at RMB 145,980/mt. 

On Tuesday, SHFE 1709 tin opened at RMB 145,880/mt, and sank to RMB 144,700/mt before the closing bell rung. The most active contract ended the day down RMB 1,020/mt or 0.7% at RMB 144,990/mt. Trading volumes were down 10,990 lots to 15,522 lots, and positions were up 576 lots to 18,056 lots. SHFE 1709 tin should seek direction in the short term, with resistance at RMB 145,800/mt and support at RMB 144,000/mt.