Home / Metal News / Tin / [SMM tin brief review] bullish tin briefly broke the pressure level in Shanghai.
[SMM tin brief review] bullish tin briefly broke the pressure level in Shanghai.
Jul 3,2020 18:37CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 3:

Shanghai tin main 2009 contract opened at 138300 yuan / ton last night, the night market closed more than the impact of entry, shock uplink, late night trading slightly higher. It opened at 139490 yuan / ton in the morning, and the bulls continued to enter the market at night. The tin price in Shanghai futures fluctuated and rose. In the morning midday, it hit the intraday high of 140240 yuan / ton, breaking the pressure level of 140000 yuan / ton, and then reached the peak pullback to near the morning opening price. Then a small amount of bulls entered the market. Shanghai tin prices rose, closing at 139790 yuan / ton, up 1440 yuan / ton, or 1.04%. Trading volume was 33775, positions were 29161, and increased by 4234. The physical part is located near the 5-day moving average, and the lower shadow line is supported by the 10-day moving average. Today, the tin price in Shanghai is close to the high of the platform before the year, basically making up for the decline after the year, and the downward space is expected to be limited in the short term, and the upper pressure is expected to be near the high of 140500 yuan / ton of the platform before the year.

Daily review

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