Decline in SHFE tin weaken spot trading in Shanghai

SHANGHAI, May 30 (SMM) – Trading in the spot tin market in Shanghai weakened on Wednesday May 30 as the trading level of SHFE 1809 contract fell to the 154,000 yuan/mt level from 155,000 yuan/mt during the day, SMM learned.

Transactions were mostly heard at 149,500-152,500 yuan/mt. Downstream consumers were keen to remain on the sidelines while some traders purchased for hedging.

Given the instability in prices of futures, sellers and buyers were inclined to watch and wait.

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