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[SMM tin brief review] reduction of positions in Shanghai tin center of gravity overall high position to maintain stability
May 27,2020 17:45CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 27th:

Shanghai tin 2007 contract last night after the opening of 133440 yuan / ton, rose at the beginning of the session and maintained at 134000 yuan / ton above the daily average near the shock finishing, rose again at the end of the day. After the opening of 134380 yuan / ton in early trading today, the early trading rose slightly to an intraday high of 134930 yuan / ton before falling back, and then until the close of trading in Shanghai tin showed an overall concussive downward trend, and finally closed at 134100 yuan / ton, up 20 yuan / ton. The trading volume was 41120 lots, the position was 11680 lots, a decrease of 2754 lots. Today, Shanghai tin closed with a small positive line, and the entity part was supported by the 5-day moving average. It is estimated that the upper resistance of tin in Shanghai is near the previous high of 136000 yuan / ton.

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