SHFE 1709 Tin Ends with Big Decline (2017-8-14)

SHANGHAI, Aug. 14 (SMM) –SHFE 1709 tin moved mainly around RMB 145,700/mt during last Friday’s night session. 

On Monday, SHFE 1709 tin opened at RMB 145,610/mt, and kept falling on short selling. The most active contract ended at an intraday low of 144,200/mt, down RMB 2,060/mt or 1.41%. Trading volumes decreased 5,670 lots to 11,820 lots, and positions decreased 2 lots to 20,216 lots. After tough stance by the CISA, the SHFE took action to cool down fever in ferrous metals market. This sent ferrous metals prices down across the board. Base metals took a hit as well. SHFE 1709 tin will look for support at RMB 143,000/mt.