[brief Review of tin in SMM period] High position of tin center of gravity in Shanghai period to maintain stability

Published: May 21, 2020 16:57 (GMT+8)

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SMM, May 21:

After the opening of 134600 yuan / ton last night, the main tin 2007 contract in Shanghai showed a trend of first suppressing and then rising. At the beginning of the session, it rebounded after falling to an intraday low of 133820 yuan / ton, and gradually pushed up the price trend. After the opening of 135000 yuan / ton in early trading today, due to the influence of bullish positions rising to an intraday high of 136180 yuan / ton at the beginning of the day, some bulls left the market, and the tin pressure in Shanghai fell back, finally closing at 134770 yuan / ton, down 150 yuan / ton, with a turnover of 47665 lots and a position of 29442 lots, a decrease of 1158 lots. Today, Shanghai tin closed with a cross star line, located above all moving averages, and it is expected that the resistance above the Shanghai tin main 2007 contract will be around 135000 yuan / ton.

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