[brief comment on tin in SMM period] A large increase in short positions has caused an abnormal decline of nearly 7000 yuan per ton in Shanghai.

SMM, July 2 / PRNewswire-Asianet /-

Shanghai tin main 1909 contract yesterday night trading 142330 yuan / ton after the opening, the overall maintenance of shock finishing situation. After the opening of 142030 yuan / ton in early trading this morning, due to a large increase in short positions, Shanghai tin fell by the limit to 135310 yuan / ton, down 6990 yuan / ton, or 4.91 per cent. The trading volume was 56600, an increase of 38074. The position was 49316 hands, an increase of 3568 hands. Tin short positions increased significantly in Shanghai today, with the Changyin line falling below the horizontal low of 140000 yuan / ton to 135310 yuan / ton since November 2016. the preliminary forecast is that the lower support will be around 135000 yuan / ton.

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