SHFE 1709 Tin Ends with Big Decline (2017-6-7)

SHANGHAI, Jun. 7 (SMM) – On Tuesday’s night session, SHFE 1709 tin hit a high of RMB 144,440/mt, but then fell back to close at below the 60-day moving average. 

On Wednesday, SHFE 1709 tin tumbled to RMB 142,500-143,000/mt in the morning after opening at RMB 143,520/mt, and dived further to RMB 141,400/mt in the afternoon. Finally, the most active contract ended the day down RMB 920/mt or 0.65% at RMB 141,700/mt. Trading volumes increased 9,140 lots to 24,842 lots, and positions increased 1,056 lots to 20,194 lots. SHFE 1709 tin was dragged down by LME tin and will fall further to test support at RMB 140,000/mt.