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[SMM Tin Morning News] the overall stability of the tin center of gravity during the internal and external disk period
May 7,2020 09:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, July 7:

Lunxi trend: Lunxi electronic trading opened at $15245 / ton yesterday, with a maximum of $15300 / tonne and a minimum of $14970 / tonne, closing at $15195 / tonne, up $15 / tonne. A total of 305 hands were traded throughout the day, and 17267 hands were held, an increase of 81 hands. Inventory was 5080 tons, 20 tons less than in the previous period.

Lunxi electronic plate yesterday after the opening of $15245 / tonne, the beginning of the session quickly rushed up to a day high of $15300 / tonne after pressure fell back to the opening price near the shock finishing. After the opening of the European market, the consolidation trend continued at the beginning of the session, and then quickly fell to an intraday low of $14970 / ton before rising quickly, erasing most of the previous decline, and finally closing at $15195 / ton, showing a small Yin line. The lower shadow line is longer near the 5-20 moving average, and the support level near the integer gate of 15000 US dollars / ton is tested under Lunxi.

Shanghai tin trend: Shanghai tin main 2007 contract opened last night 127370 yuan / ton, the highest 129230 yuan / ton, the lowest 127200 yuan / ton, closed 128710 yuan / ton, up 30 yuan / ton. 13957 hands were traded and 29618 positions were held, an increase of 216hands.

After the main 2007 contract of Shanghai tin opened last night at 127370 yuan / ton, at the beginning of the session, it was quickly affected by the increase of long forces, and then short and long forces reduced a few positions one after another, and Shanghai tin maintained a high shock finishing trend. During the period, it fell back after reaching a daily maximum of 129230 yuan / ton, and finally closed at 128710 yuan / ton, showing a positive line. The physical part was located near the 5-day moving average, and below it was supported by the 60-day moving average. It is expected that the resistance above the Shanghai tin main force 2007 contract is near the integer level of 130000 yuan / ton in the short term.

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