SHFE 1709 Tin Continues Falling Sharply (2017-5-24)

SHANGHAI, May 24 (SMM) –SHFE 1709 tin hovered narrowly around RMB 145,200/mt during Tuesday’s night session, and ended at RMB 145,180/mt.   

On Wednesday, SHFE 1709 tin opened at RMB 145,200/mt, and sank to RMB 143,850/mt. The most active contract rebounded slightly in the afternoon and ended the day down RMB 1,320/mt or 0.91% at RMB 144,290/mt. Trading volumes were down 5,502 lots to 10,020 lots, and positions were down 136 lots to 17,920 lots. Commodity market in domestic market slumped. Performance was mixed among base metals prices. SHFE 1709 tin should head to RMB 140,000/mt if it fails to hold onto support at the 60-day moving average.