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[SMM Tin Morning News] the center of gravity of Lunxi moved down yesterday.
May 14,2020 09:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, 14 March:

Lunxi trend: Lunxi electronic trading opened at US $15255 / ton yesterday, with a maximum of US $15300 / tonne and a minimum of US $15050 / tonne, closing at US $15080 / tonne, down US $190 / tonne. 172 hands were sold throughout the day, and 17562 hands were held, an increase of 128 hands. Inventory was 4725 tons, an increase of 15 tons over the previous period. After the opening of the electronic disk of US $15300 / ton yesterday, Lunxi generally showed a concussive downward trend from the Asian session to the opening of the European market, during which the European market quickly rose to an intraday high of US $15300 / ton and then quickly fell under pressure and fluctuated all the way down. Geneva tin rose slightly after reaching an intraday low of US $15050 / ton and finally closed at US $15080 / tonne, showing a negative line, and the physical part was located near the 5-20-day moving average. Support below Lunxi is expected to be around $15000 a tonne. Shanghai tin trend: Shanghai tin main 2007 contract opened last night 130250 yuan / ton, the highest 130560 yuan / ton, the lowest 129780 yuan / ton, closed 130170 yuan / ton, down 80 yuan / ton. 18419 hands were traded and 30986 hands were held, a decrease of 510 hands. Shanghai tin 2007 contract last night after the opening of 130250 yuan / ton, the beginning of the market quickly fell to a low of 129780 yuan / ton, and then until the close of night trading Shanghai tin generally maintained near 130000 yuan / ton below the daily moving average line, and finally closed at 130170 yuan / ton, showing a cross star line, located near the 5-day moving average. It is expected that the support under the Shanghai tin 2007 contract is near the 10-day moving average 129000 yuan / ton.

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