SHFE 1709 Tin Recovers Lost Ground (2017-6-6)

SHANGHAI, Jun. 6 (SMM) – On Monday’s night session, SHFE 1709 tin fell at first and then rebounded, ending at RMB 142,500/mt. 

On Tuesday, SHFE 1709 tin hovered narrowly in the morning after opening at RMB 142,580/mt, and shot up to RMB 143,650/mt in the afternoon due to massive long buying. Finally, the most active contract ended the day up RMB 380/mt or 0.27% at RMB 143,300/mt. Yunnan Tin Group announced that it has been approved to engage in tin concentrate processing trade. Some believed this will have big impact on SHFE/LME tin price ratio and trigger outflows of tin ingots from China to overseas market so as to help ease supply pressure in domestic market.