SMM, 17 October:
Trend: Lunxi Electronics opened yesterday at $16750 / tonne, up $16990 / tonne and as low as $16600 / tonne, closing at $16875 / tonne, up $155 / tonne. 386 hands were traded throughout the day, and 17737 hands were held, a decrease of 481hands. Inventory was 6685 tons, an increase of 130 tons over the previous period.
After the opening of the electronic plate of $16750 / ton yesterday, after the Asian session to the opening of the European market, Lunxi generally maintained a wide shock near the opening price, followed by a concussion all the way up to a daily high of $16990 / ton and then a small decline, and finally closed at $16875 / ton, showing a positive line. The physical part was near the 60-day moving average, and the lower shadow line went near the 5-and 40-day moving average. Resistance above Lunxi is expected to be near the integer level of $17000 / tonne.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night night 138720 yuan / ton, the highest 139640 yuan / ton, the lowest 138360 yuan / ton, closed 139430 yuan / ton, up 640 yuan / ton. 17946 hands were traded and 42374 hands were held, an increase of 670 hands.
Shanghai tin main force 2001 contract last night after the opening of 138720 yuan / ton, the beginning of the session quickly rose to a night high of 139640 yuan / ton. Subsequently, until the end of the night, tin in Shanghai remained at a high level near the daily average of 139200 yuan / ton, and finally closed at 139430 yuan / ton, showing a small positive line, which was above all EMA. Last night, tin in Shanghai made up for the gap in the early jump. It is expected that the resistance above tin in Shanghai is near the integer gate of 140000 yuan / ton.
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