SHFE 1709 Tin Takes Nosedive (2017-6-2)

SHANGHAI, Jun. 2 (SMM) – On Friday, SHFE 1709 tin opened at RMB 143,840/mt, hitting a low of RMB 143,000/mt in the morning. The contract then stabilized, but suddenly dived to RMB 142,550/mt before the closing time. Finally, the most active contract ended the day down RMB 690/mt or 0.48% at RMB 142,710/mt. Trading volumes decreased 4,814 lots to 11,498 lots, and positions increased 362 lots to 18,184 lots. SHFE 1709 tin will face further downward pressure and test support at RMB 140,000/mt.