SMM7, March 1:
Lunxi trend: Lunxi electronic trading yesterday opened at US $16840 / ton, with a maximum of US $16945 / tonne and a minimum of US $16690 / tonne, closing at US $16770 / tonne, down US $40 / tonne, with a turnover of 376 lots and a position of 17039 lots, an increase of 77 lots. Yesterday's LME inventory was 3605 tons, an increase of 40 tons.
Lunxi, which opened at $16840 a tonne yesterday, was barely traded in the morning, rose slightly in the afternoon, and then hit an intraday high of $16945 a tonne. After that, it shook down, reaching a daily low of US $16690 / ton in late trading, and then rebounded to close at US $16770 / t, showing a negative line. The physical part is located near the 5-day moving average, which is supported by the 20-day moving average. The lower support level is expected to be around 16500 US dollars / ton.
Shanghai tin trend: Shanghai tin main 2008 contract opened yesterday night at 138310 yuan / ton, the highest 138950 yuan / ton, the lowest 138260 yuan / ton, closed at 138400 yuan / ton, down 430 yuan / ton, 8425 hands, 12028 positions, a decrease of 575 yuan / ton.
The tin night auction in Shanghai opened at 138310 yuan / ton. Under the influence of air conditioner departure, it rose slightly, reaching the highest point of 138950 yuan / ton in the night market. Then, under the influence of bulls leaving the market, it fluctuated all the way down to close at 138400 yuan / ton, showing a cross star. The upper pressure level is expected to be around 139000 yuan / ton, and the lower support level is around 137000 yuan / ton on the 20th moving average.