SMM, 8 May:
Shanghai tin main force 2007 contract last night 129600 yuan / ton after the opening of the overall maintenance in the vicinity of the opening price shock finishing. After the opening of 129410 yuan / ton in early trading today, the overall horizontal consolidation trend was maintained between early trading and midday trading. Affected by the long increase in positions in the afternoon, Shanghai tin quickly rushed up to a daily high of 131000 yuan / ton. Subsequently, the long part of the reduction left the market, Shanghai tin fell back, and finally closed at 130180 yuan / ton, up 1330 yuan / ton, up 1.03%, trading volume 39863 hands, position 32117 hands, an increase of 1047 hands. Today, Shanghai tin is a small positive line, the physical part is above all moving averages, and the resistance above Shanghai tin is expected to be near the previous high of 132000 yuan / ton.
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