SMM, 22 Oct:
Trend: Lunxi Electronics opened yesterday at $16775 / tonne, up to $16875 / tonne and as low as $16630 / tonne, closing at $16800 / tonne, down $170.00 / tonne. A total of 194 hands were closed throughout the day, and 17413 hands were held, a reduction of 85 hands. Inventory was 6700 tons, 5 tons less than in the previous period.
After the opening of US $16770 / ton today, the Asian plate remained consolidated near the opening price during the morning to noon trading. In the afternoon of the Asian plate, Lunxi rose slightly to 16870 yuan / ton to maintain a high consolidation. After the opening of the European market, Lunxi showed a wave-like downward trend, quickly fell to $16630 / ton after hitting the bottom, erased most of the previous decline and returned to the top of the opening price, and finally closed at $16800 / ton, showing a small positive line, with the lower shadow line near the 10 -, 40-and 60-day moving average, the upper shadow line under pressure on the 5-day moving average, and the support below Lunxi is expected to be near the 20-day moving average of $16500 / ton.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night night 138030 yuan / ton, the highest 138090 yuan / ton, the lowest 137410 yuan / ton, closed 137890 yuan / ton, down 90 yuan / ton. 8352 hands were traded and 40790 hands were held, an increase of 578 hands.
Shanghai tin main force 2001 contract last night after the opening of 138030 yuan / ton, at the beginning of the day by the short force shock down to the night low of 137410 yuan / ton, then Shanghai tin returned to the daily average 137700 yuan / ton to maintain the horizontal consolidation trend, finally closed at 137890 yuan / ton, showing a small negative line, the physical part of the bottom by the 10-day moving average support, Shanghai tin support is expected to be located in the 20th moving average of 137000 yuan / ton.
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