[brief comment on SMM Tin] A large number of short positions left the market in Shanghai, tin rose by more than 1500 yuan / ton.

SMM7 16-month news: Shanghai tin main 1909 contract last night after the opening of 133260 yuan / ton, the beginning of the market quickly fell to the night low of 132100 yuan / ton after the rapid reverse pumping to the night high of 134500 yuan / ton, and then until the close, Shanghai tin all the way down concussion. After the opening of 132760 yuan / ton in early trading this morning, a large number of short positions in Shanghai tin all the way up more than 1500 yuan / ton, climbed to the intraday high of 135390 yuan / ton, then fell back slightly, and finally closed at 134890 yuan / ton, up 1670 yuan / ton, an increase of 1.25 per cent. The trading volume was 28646, an increase of 7966. The number of positions was 30844, a reduction of 1916. Today, Shanghai tin overall suppression and then rise, to close with the Changyang line, the physical part is located near the 5-10 EMA. It is estimated that the resistance above tin in Shanghai is near the previous high of 137500 yuan / ton.

"after the collapse of Shanghai and tin, the metal rose sharply and plummeted, and after the collapse, we need to study the fundamentals calmly.

"Click to view SMM historical price data

"Click to sign up for SMM Tin Industry chain Summit