SHFE 1709 Tin Recovers Lost Ground (2017-6-6)-Shanghai Metals Market

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

Price Review & Forecast 05:05:37PM Jun 06, 2017 Source:SMM

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.   



 

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

Price Review & Forecast 05:05:37PM Jun 06, 2017 Source:SMM

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.