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[SMM Tin Morning News] in Shanghai, Xi first suppressed and then raised the center of gravity to maintain overall stability.
May 21,2020 09:30CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 21:

Lunxi trend: Lunxi electronic trading opened at US $15390 / ton yesterday, with a maximum of US $15595 / tonne and a minimum of US $15295 / tonne, closing at US $15465 / tonne, up US $45 / tonne. 472 lots were traded throughout the day, and 16800 positions were held, a decrease of 460 hands. The inventory is 3465 tons, 35 tons less than the previous period. After the opening of Lunxi electronic disk at US $15390 / ton yesterday, the Asian market initially rose to the daily average of US $15500 / tonne and maintained the consolidation trend. After the opening of the European market, Lunxi shock rose, reached an intraday high of $15595 / ton, quickly fell under pressure to an intraday low of $15295 / ton, returned in late trading, erased most of the previous decline and returned to above the opening price, and finally closed at $15465 / tonne, showing a small positive line, above all moving averages, and the resistance above Lunxi is expected to be near the previous high of $15600 / ton. Shanghai tin trend: the Shanghai tin main 2007 contract opened last night at 134600 yuan / ton, with a maximum of 135260 yuan / ton and a minimum of 133820 yuan / ton, closing at 134820 yuan / ton, down 100 yuan / ton. 18241 hands were traded and 29871 positions were held, a decrease of 729 hands. Shanghai tin 2007 contract last night after the opening of 134600 yuan / ton, the overall trend was first suppressed and then rose, at the beginning of the session was affected by the strength of long positions under pressure, and then the bears left the market to push up the price advantage of the disk, climbed to an intraday high of 135260 US dollars / ton, and finally closed at 134820 yuan / ton, showing the Xiaoyang line, above all the moving average. It is expected that the resistance above the Shanghai tin main 2007 contract will be near the test 135000 yuan / ton.

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