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Home / Metal News / [brief comment on Tin in SMM] A large increase in short positions and a decline in Tin Changyin in Shanghai

[brief comment on Tin in SMM] A large increase in short positions and a decline in Tin Changyin in Shanghai

iconJul 1, 2019 17:16
Source:SMM

SMM, July 1 / PRNewswire-Asianet /-

Shanghai tin main 1909 contract last Friday night after the opening of 143080 yuan / ton, all the way down, the lowest down to 141850 yuan / ton after the return. After the opening of 142290 yuan / ton in early trading this morning, the overall trend of low consolidation was maintained, and finally closed at 142300 yuan / ton, down 810 yuan / ton, or 0.57 per cent. The trading volume was 18526 hands, and the position volume was 45748 hands, an increase of 1948 hands. Today, due to a large number of short positions led to Shanghai tin pressure down, to close to the Changyin line, the upper shadow line pressure on the 5th moving average, Shanghai tin is expected to support around 141500 yuan / ton.

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