SHFE 1709 Tin Falls as Longs Take Profit (2017-5-26)

SHANGHAI, May 26 (SMM) –SHFE 1709 tin dropped slightly during Thursday’s night session, and ended at RMB 145,700/mt. 

On Friday, SHFE 1709 tin opened at RMB 145,460/mt, hitting a low of RMB 144,580/mt in the afternoon as longs pulled out. Finally, the most active contract ended the day down RMB 140/mt or 0.1% at RMB 144,820/mt. Trading volumes increased 1,448 lots to 15,314 lots, and positions decreased 742 lots to 18,486 lots. Tumbling crude oil prices hit base metals market. SHFE 1709 tin will face downward pressure in the short term.