SMM7, April 24th, news:
Shanghai tin main 1909 contract last night after the opening of 134580 yuan / ton, at the beginning of the market quickly fell to 133500 yuan / ton, and then until the close of night, Shanghai tin consolidation situation, the center of gravity moved down slightly. After opening 133060 yuan / ton in early trading this morning, tin in Shanghai fell more than 2000 yuan / ton at the beginning of the day due to short selling, falling to an intraday low of 130760 yuan / ton, and then bottomed back to around 133950 yuan / ton. Until the close, tin in Shanghai remained at 133600 yuan / ton above the daily average. Finally, it closed at 133730 yuan / ton, down 930 yuan / ton, down 0.69 per cent. The trading volume was 47560, an increase of 32950. The position was 28704 hands, an increase of 804 hands. Today, Shanghai tin due to short pressure fell sharply, followed by short profit-taking, long entry, Shanghai tin rapid rebound, erase most of the previous decline, and finally closed with a negative line, the physical part is located near the 5-10 EMA, the shadow line is longer. Today, Shanghai tin failed to effectively fall below the horizontal range low, it is expected that Shanghai tin support is still around 132000 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.
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