[SMM Tin Morning News] Lunxi Changyang rises and maintains the stability of the tin center of gravity in Shanghai.

Published: Oct 14, 2019 08:59 (GMT+8)

Save

SMM, 14 October:

Trend: Lunxi Electronics opened Friday at $16395 / tonne, up $16640 / tonne to $16380 / tonne, closing up $16640 / tonne, up $195 / tonne. 198 hands were traded throughout the day, and 18217 hands were held, an increase of 146 hands. Inventory was 6605 tons, 40 tons less than in the previous period.

Lunxi electronic plate on Friday after the opening of $16395 / ton, Asia early trading to noon during the overall maintenance of the opening price horizontal finishing. In the afternoon of the Asian plate, Lun Xi rushed up to $16445 / ton and returned to the opening price again. After the opening of the European market, at the beginning of the day fell slightly to a daily low of $16380 / ton before hitting the bottom, and then affected by Indonesia's September refined tin exports fell 41 per cent year-on-year. Lunxi overall showed a concussive upward trend, and finally closed at US $16640 / ton, showing a long Yang line, with the physical part near the May and 20-40 moving averages, supported by the 10-day moving average below, and the resistance above Lunxi is expected to be near the 60-day moving average of $16800 / ton.

Shanghai tin trend: Shanghai tin main 2001 contract opened on Friday night 136480 yuan / ton, the highest 137230 yuan / ton, the lowest 136050 yuan / ton, closed 136210 yuan / ton, up 60 yuan / ton. 14968 hands were traded, 38712 hands were held, and 156 hands were reduced.

After the opening of 136480 yuan / ton on Friday, the Shanghai tin main force 2001 contract was held up under pressure after rising to a high of 137230 yuan / ton at the beginning of the session, and quickly fell to a low of 136050 yuan / ton at night before rising slightly. Subsequently, the overall tin in Shanghai closed at 136300 yuan / ton until the end of the night, and finally closed at 136210 yuan / ton, showing a small negative line, supported by the 5-10 moving average at the bottom, and bearing pressure on the 20-day moving average. It is expected that the resistance above Shanghai tin is near the 20-day moving average of 137300 yuan / ton, and the lower support is near the 40-60 day moving average of 135000 yuan / ton.

"Click to sign up for this summit

Transaction in Shanghai Stock Exchange Price Forecast Morning News

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

[Caspin boosts Kelpie tin resource by 45% eyeing standalone open-pit project]

Caspin Resources (ASX: CPN) reported a 45% increase in the Mineral Resource estimate for the Kelpie tin deposit at its wholly-owned Bygoo Tin Project in New South Wales, now at 6.5 million tonnes grading 0.43% tin for 28,000 tonnes of contained tin. The resource is fully constrained within an optimised open-pit shell, includes a maiden Indicated component representing 25% of the total, and is supported by refined mining and processing parameters. This update marks a key milestone in advancing Bygoo as a potential standalone, high-grade open-pit tin development, underpinned by strong tin prices and improved confidence in the geological model. Caspin sees substantial upside from a large near-surface drilling gap, down-plunge extensions and new targets, with ongoing drilling aimed at significantly growing the resource base and strengthening project economics.

10 hours ago

[Cornish Metals opens new workshop and stores facility to advance UK South Crofty tin project]

Cornish Metals (AIM:TIN) has opened a new workshop and stores facility to provide permanent maintenance, engineering and storage services for the South Crofty tin project in the UK, supporting the project through development and into production. The building stands on the site of the former Bartles Foundry within South Crofty's surface footprint, is covered with solar panels and will use geothermal energy recovered from mine water pumped from South Crofty, providing a lower-carbon energy source. The project was part-funded by a grant of up to 4.2 million GBP (about 7.98 million USD) from the UK Government through the UK Shared Prosperity Fund, managed by Cornwall Council; total project cost was approximately 6.8 million GBP (about 12.92 million USD). CEO Don Turvey said installation of the service winder and completion of the production winder building mark a visible shift from preparation to construction at the New Cook's Kitchen (NCK) shaft, with underground dewatering passing 400m below surface and progressing steadily. A two-hole, 2,330m surface drilling programme at Roskear has been completed; both holes intersected the known Roskear lodes at or close to predicted positions, confirming tin mineralisation continues west beyond the current resource and supporting potential resource growth. High-grade tungsten was also discovered, but tin remains the company's focus. South Crofty is a historical underground tin mine considered among the highest-grade tin resources globally, with potential to become a new low-cost global producer. Tin mining in Cornwall's Central Mining District dates back to 2,300 BC, with large-scale production from the mid-1600s until South Crofty, the last active mine, closed in 1998.

10 hours ago

【Flash | Court Ruling Eases Shutdown Risk at Young Poong’s Indium-Bearing Seokpo Smelter】

Young Poong Corporation disclosed on October 2 that a court of first instance had cancelled the 10-day suspension order for Seokpo Smelter, which is currently operating normally. Sales attributable to the affected operation totalled approximately KRW 1.0096 trillion in 2024, representing 36.22% of consolidated revenue. Young Poong’s official history shows that the smelter completed an indium plant in April 2012. SMM views the ruling as easing near-term disruption risk to zinc smelting and by-product indium extraction, although any appeal and the indium plant’s actual operating rate and output require further monitoring.

10 hours ago