SHFE 1709 Tin Ends with Gains (2017-8-28)

SHANGHAI, Aug. 28 (SMM) – Last Friday’s night session, SHFE 1709 tin fell to RMB 142,240/mt before ending at RMB 142,760/mt.   

On Monday, SHFE 1709 tin jumped to RMB 143,200/mt in the morning and continued rising in the afternoon. Finally, the contract ended up RMB 340/mt or 0.24% at RMB 144,110/mt. Trading volumes of SHFE 1709 tin increased 298 lots to 10,480 lots, and positions decreased 846 lots to 12,810 lots.

SHFE 1801 tin closed up RMB 360/mt or 0.25% at RMB 146,980/mt, with positions up 1,074 lots to 11,340 lots. The price spread is RMB 2,770/mt between SHFE 1709 and 1801 tin. SHFE 1801 tin may become the most active one soon. 

SHFE 1709 tin will move between RMB 142,500-144,500/mt, with some support at current levels.