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[SMM Tin Morning News] the tin center of gravity moved up obviously during the internal and external trading period.
May 20,2020 09:19CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 20:

Lunxi trend: Lunxi electronic trading opened at US $15310 / ton yesterday, with a maximum of US $15420 / tonne and a minimum of US $15170 / tonne, closing at US $15420 / tonne, up US $185per tonne. 256lots were traded throughout the day, and 17260 positions were held, a decrease of 20 hands. The inventory is 3500 tons, 40 tons less than the previous period. After the Lunxi electronic disk opened at a high of 15310 US dollars / ton yesterday, from the Asian session to the beginning of the European market, Lunxi generally showed a concussive downward trend, reaching an intraday low of 15170 US dollars / tonne. Then Lunxi bottomed out and fluctuated all the way up. After erasing all the previous declines, it continued to rise, and finally closed at 15420 US dollars / ton, showing a positive line, and the lower shadow line was located near the 5-and 60-day moving average. The resistance above Lunxi is expected to be around the previous high of 15600 USD15700 / tonne. Shanghai tin trend: the main tin 2007 contract in Shanghai opened 130920 yuan / ton last night, with a maximum of 132830 yuan / ton and a minimum of 130920 yuan / ton, closing at 132780 yuan / ton, up 2170 yuan / ton. 18446 hands were traded and 29135 positions were held, a decrease of 213th. After the main 2007 contract of Shanghai tin opened last night at 130920 yuan / ton, it was affected by the strength of long positions at the beginning of the session. After the initial rapid upsurge, the tin plate in Shanghai continued to fluctuate upward, reaching a high of 132830 yuan / ton, and then fell slightly after reaching a high of 132830 yuan / tonne. Finally, it closed at 132780 yuan / ton, showing a positive line, and the physical part was supported by the 5-10-day moving average. It is expected that the resistance above the Shanghai tin main 2007 contract is located near the starting and falling point of the pre-jump gap of 134000 yuan / ton.

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