SMM, 18 October:
Trend: Lunxi Electronics opened yesterday at $16890 / tonne, up $17240 / tonne and as low as $16820 / tonne, closing at $17105 / tonne, up $230 / tonne. During the day, 586 hands were traded and 17305 hands were held, a decrease of 432 hands. Inventory was 6705 tons, an increase of 20 tons over the previous period.
Lunxi electronic disk today after the opening of $16890 / ton, the Asian session overall maintained in the vicinity of the opening price shock finishing. After the opening of the European market, affected by the decline of the dollar index, Lunxi fluctuated all the way up, climbing to a daily high of $17240 / ton and maintaining an overall shock around $17150 / ton above the daily moving average, and finally closed at $17105 / ton, showing the Changyang line, which is above all moving averages. Resistance above Lunxi is expected to be near the previous high of $17600 / ton.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night night 140500 yuan / ton, the highest 141790 yuan / ton, the lowest 139880 yuan / ton, closed 140800 yuan / ton, up 1180 yuan / ton. 38222 hands were traded and 43756 hands were held, an increase of 348 hands.
Shanghai tin main force 2001 contract last night 140500 yuan / ton jump high open, the beginning of the session quickly rushed up to the night high 141790 yuan / ton after the pressure fell back, down to the night low near 139880 yuan / ton after rebounding, and finally closed at 140800 yuan / ton, showing a small positive line, located above all moving averages. Last night, Shanghai tin successfully reached 140000 yuan / ton, short-term attention to Shanghai tin can stabilize above 140000 yuan / ton. The resistance above tin in Shanghai is expected to be around 142000 yuan / ton.
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