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SHFE 1709 Tin Ends with Big Decline (2017-8-11)
Aug 11, 2017 18:49Source:SMM
On Thursday’s night session, SHFE 1709 tin moved mainly between RMB 146,900-147,400/mt.
SHANGHAI, Aug. 11 (SMM) – On Thursday’s night session, SHFE 1709 tin moved mainly between RMB 146,900-147,400/mt.
On Friday, SHFE 1709 tin dived to RMB 144,590/mt shortly after opening at RMB 146,600/mt. The most active contract then moved between RMB 145,500-146,000/mt before ending down RMB 1,730/mt or 1.17% at RMB 145,550/mt. Trading volumes increased 306 lots to 17,490 lots, and positions decreased 60 lots to 20,218 lots. SHFE 1709 tin has lost support at RMB 146,000/mt, but will see limited room for further decline. SHFE 1709 tin will find support at RMB 145,000/mt and meet resistance at RMB 147,500/mt.
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