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[SMM Tin Morning News] the tin center of gravity in the period of bullish Jiancang Shanghai fell under pressure.
May 22,2020 09:00CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 22:

Lunxi trend: Lunxi electronic trading opened at $15520 / ton yesterday, with a maximum of $15735 / ton and a minimum of $15390 / tonne, closing at $15400 / tonne, down $65 / tonne. 394 lots were traded throughout the day; 16825 lots were held, an increase of 25 lots. The inventory is 3410 tons, 55 tons less than the previous period. After the opening of the Lunxi electronic disk at US $15520 / ton yesterday, during the Asian session to the beginning of the European market, Lunxi generally maintained a shock finishing around US $15600 / t, during which it reached an intraday high of US $15735 / ton. then until the close of Lunxi pressure all the way down, and finally closed at 15400 US dollars / ton, showing a negative line, the physical part is above all moving averages, and the support below Lunxi is near the 60-day moving average of 15100 US dollars / ton. Shanghai tin trend: the main tin 2007 contract in Shanghai opened 134990 yuan / ton last night, with a maximum of 135030 yuan / ton and a minimum of 133010 yuan / ton, closing at 133010 yuan / ton, down 1760 yuan / ton. 27584 lots were traded and 28092 positions were held, a decrease of 1350 hands. Shanghai tin main 2007 contract last night after the opening of 134990 yuan / ton, affected by the gradual reduction of positions by bulls, the overall shock downward, and finally closed at 133010 yuan / ton, showing a negative line, the entity part was supported by the 5-day moving average. It is expected that the lower support of the Shanghai tin main 2007 contract is near the previous high of 132000 yuan / ton.

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