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[SMM Tin Morning News] during the period of internal and external consolidation, the pattern of tin consolidation remained unchanged yesterday and the center of gravity moved up slightly.
Oct 30,2019 09:10CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 30 October:

Trend: Lunxi Electronics opened yesterday at $16700 / tonne, up $16880 / tonne and as low as $16655 / tonne, closing at $16830 / tonne, up $110 / tonne. A total of 153 hands were sold throughout the day, while positions were held in 17028 hands, a decrease of 64 hands. Inventory is 6585 tons, 5 tons less than before.

After the opening of US $16700 / ton yesterday, there was little trading between early trading and midday trading, and Lunxi remained consolidated near the opening price in the afternoon. After the opening of the European market, affected by the decline in the dollar index and the rise in crude oil prices, Lunxi fluctuated all the way up, and finally closed at US $16830 / ton, showing a positive line, with the physical part near the 5-and 40-day moving average, the top bearing on the 10-day moving average, and the lower shadow line supported by the 20-and 60-day moving average. It is expected that the support below Lunxi is near the 20-day moving average of $16600 / ton, and the upper resistance is near the integer level of $17000 / ton.

Shanghai tin trend: Shanghai tin 2001 opened last night night 138440 yuan / ton, the highest 138880 yuan / ton, the lowest 138320 yuan / ton, closed 138880 yuan / ton, up 340 yuan / ton. 6276 hands were traded and 40732 hands were held, an increase of 244 hands.

After the main 2001 contract of Shanghai tin opened 138440 yuan / ton last night, it quickly rushed up to 138700 yuan / ton at the beginning of the session. Then, until the end of the night, the tin of Shanghai was generally maintained at 138700 yuan / ton above the daily average. at the end of the day, the short leave Shanghai tin rose slightly again, and finally closed at 138880 yuan / ton, showing a small positive line, and the physical part was near the 5-10 moving average. It is expected that the lower support of tin in Shanghai is located near the 20-day moving average of 137500 yuan / ton, and the upper resistance is near the integer level of 140000 yuan / ton.

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