SMM, May 20:
Shanghai tin 2007 contract last night after the opening of 130920 yuan / ton, affected by the strength of long positions, Shanghai tin plate at the beginning of the rapid upsurge continued to shock upward. After the opening of 132660 yuan / ton in early trading today, affected by the increase of positions in the morning, the early trading quickly rose to the intraday high of 135390 yuan / ton, then the tin in Shanghai fell slightly and remained at 134400 yuan / ton in horizontal trading, and rose slightly in late trading under the influence of long positions. Finally, it closed at 134920 yuan / ton, up 4310 yuan / ton, or 3.3%, with a turnover of 52459 lots and a position of 30600 lots, an increase of 1252 lots. Today, Shanghai tin closed on the Changyang line, the bottom of the entity was supported by the 5-10-day moving average, and the resistance level near 135000 yuan / ton was tested in the short term above Shanghai tin. If it continues to break effectively, the next resistance is around 136500 million yuan / ton.
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