SHFE Tin Closes Higher (2016-12-7)

SHANGHAI, Dec. 7 (SMM) – On Tuesday’s night trading, SHFE 1701 tin kept fluctuating and finally closed at RMB 144,230/mt.

On Wednesday, SHFE 1701 tin started at RMB 144,230/mt and then fluctuated. During the afternoon trading, SHFE 1701 tin surged above the 20-day moving average to RMB 146,600/mt with longs strengthening. The contract finally closed at RMB 146,060/mt, up RMB 1,440/mt or 1.00%. Trading volumes rose 2,176 to 18,714 lots and positions increased 758 to 13,958. Total RMB 5.01 billion flew into China’s futures market on Wednesday, including RMB 1.41 billion in base metals market. SHFE 1701 tin broke through the moving average during the afternoon trading on Wednesday.

SHFE 1701 tin will keep firm and test RMB 149,000/mt on Wednesday’s night trading.