SHANGHAI, Apr. 2 (SMM) – SHFE 1507 tin opened at RMB 117,970/mt on Thursday. The most active contract dropped to RMB 118,120/mt as investors took profits at highs. Trading volumes fell by 2,716 lots, with positions down 234 to 1,038.
LME tin stopped falling as the US dollar index stabilized. This should lend support to SHFE tin prices. SHFE 1507 tin contract is expected to test support at RMB 116,000/mt and meet resistance at RMB 120,000/mt during today’s night session.