SMM, 10 October:
Trend: Lunxi Electronics opened yesterday at $16375 / tonne, up $16550 / tonne and as low as $16200 / tonne, closing at $16400 / tonne, up $30 / tonne. 425 hands were sold throughout the day, and 17780 hands were held, down by 144 hands. Inventory was 6660 tons, 60 tons less than in the previous period.
After the opening of $16375 / ton yesterday, there was little trading between morning and noon in the Asian plate, which rose to $16455 a tonne in the afternoon led by Shanghai and tin. After the opening of the European market, Lunxi was dragged down by the weakening of non-ferrous metals, quickly fell to 16200 US dollars / ton, then hit the bottom all the way up to a daily high of 16550 US dollars / ton, and then came back to the opening price. Finally, it closed at 16400 US dollars / ton, showing a small positive line, with a long upper and lower shadow line, near the 10-day moving average, near the upper shadow line to the 5-day moving average, and bearing pressure on the 20-day moving average at the top. It is expected that the lower support of Lunxi is near the integer level of $16000 / tonne, and the upper resistance is near the 20-day moving average of $16500 / tonne.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night 136770 yuan / ton, the highest 137280 yuan / ton, the lowest 136280 yuan / ton, closed 136440 yuan / ton, down 490 yuan / ton. 15172 hands were traded and 39436 hands were held, an increase of 144 hands.
Shanghai tin main force 2001 contract last night after the opening of 136770 yuan / ton, the beginning of the session rose to a night high of 137280 yuan / ton, and then until the end of the night Shanghai tin overall showed a concussive downward trend, and finally closed at 136440 yuan / ton, showing a small negative line, the lower shadow line is supported by the 10-day moving average, and the resistance above Shanghai tin is expected to be near the 20-day moving average of 137800 yuan / ton, and the lower support is located near the 40-60 day moving average of 135000 yuan / ton.
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