Home / Metal News / Tin / [SMM Tin Morning News] in Shanghai, Xi first suppressed and then raised the center of gravity to maintain overall stability.
[SMM Tin Morning News] in Shanghai, Xi first suppressed and then raised the center of gravity to maintain overall stability.
May 28,2020 09:00CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 28:

Lunxi trend: Lunxi electronic trading opened at $15400 / ton yesterday, with a maximum of $15475 / ton and a minimum of $15240 / tonne, closing at $15355 / tonne, down $20 / tonne. 191lots were traded throughout the day, and 16756 positions were held, an increase of 7 hands. The inventory is 2950 tons, a decrease of 240tons compared with the previous period. After the electronic market opened at US $15400 / ton yesterday, there was little trading between morning and midday in Asia. In the afternoon, Lunxi quickly fell to US $15285 / ton and then bottomed out and rebounded, and the shock rose to an intraday high of US $15475 / tonne. Then Lunxi quickly fell back to the intraday low of US $15240 / ton and then rebounded again, finally closing at US $15355 / tonne, showing a small Yin line, and the pressure above the physical part was near the 5-day moving average. The lower shadow line is located in the 10-20 moving average support, and the support under Lunxi is expected to be around 15100 US dollars / ton. Shanghai tin trend: the Shanghai tin main 2007 contract opened last night at 133430 yuan / ton, with a maximum of 134300 yuan / ton and a minimum of 133090 yuan / ton, closing at 133790 yuan / ton, down 310 yuan / ton. 17501 lots were traded and 10519 positions were held, a decrease of 1161 hands. Shanghai tin main 2007 contract last night after the opening of 133430 yuan / ton, affected by multi-air forces have reduced positions overall showed a first suppression and then rising trend, shock fell to a low of 133090 yuan / ton before hitting the bottom to rise, and finally closed at 133790 yuan / ton, showing a small Yang line, the physical part is located near the 5-day moving average, it is expected that the resistance above the Shanghai tin main 2007 contract is around 136000 yuan / ton.

Transaction in Shanghai Stock Exchange
Price Forecast
Morning News

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn