SHFE Tin Closes with Gains (2017-4-13)

SHANGHAI, Apr. 13 (SMM) – On Wednesday’s night trading, SHFE 1705 tin fluctuated at RMB 140,000-142,000/mt, despite of slump in LME tin, and closed at RMB 141,220/mt.

On Thursday, SHFE 1705 tin started at RMB 140,870/mt and then increased slightly thanks to shorts taking profits. During the afternoon trading, the contract advanced to RMB 143,090/mt but was still below the 5-day moving average. SHFE 1705 tin rolled back at the tail of trading and closed at RMB 142,360/mt, up RMB 990/mt or 0.7%. Trading volumes fell 1,332 to 18,824 lots and positions dropped 528 to 12,282. China will release economic data in Q1 2017 soon. National Development & Reform Commission pointed out that China’s economy remained positive in Q1 2017.

SHFE 1705 tin is expected to stabilize at current level for the foreseeable future.