SHANGHAI, Jun. 1 (SMM) – On Wednesday’s night session, SHFE 1709 tin opened at RMB 143,460/mt, and hit a low of RMB 142,110/mt due to short selling. The contract then rebounded before ending at RMB 143,770/mt.
On Thursday, SHFE 1709 tin hit a high of RMB 144,500/mt on long buying, but then fell back to RMB 143,200/mt due to entry of shorts for hedging purpose. Finally, the most active contract ended the day up RMB 420/mt at RMB 143,660/mt. Trading volumes increased 3,092 lots to 16,312 lots, and positions increased 144 lots to 17,822 lots. SHFE 1709 tin should move in a wide range of RMB 142,500-144,500/mt in the short term.