SHFE Tin Prices down 0.85% (2017-3-7)

SHANGHAI, Mar. 7 (SMM) – SHFE 1705 tin moved at lows on Monday’s nigh trading and closed at RMB 145,320/mt.

On Tuesday, SHFE 1705 tin opened at RMB 145,250/mt and then declined as shorts strengthened, down as low as RMB 143,750/mt. The contract closed at RMB 144,390/mt, down RMB 1,240/mt or 0.85%. Trading volumes were down 902 to 15,228 lots and positions were up 1,104 to 13,716. Commodities declined across the board on Tuesday. China reduced GDP growth target for 2017 and base metals declined. SHFE 1705 tin dropped below RMB 145,000/mt.

SHFE 1705 tin will keep falling to RMB 142,000/mt on Tuesday’s night trading.