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[SMM tin brief review] bulls continue to enter Shanghai tin market to reach the highest point this year.
Jul 6,2020 16:51CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 6:

Shanghai tin 2009 contract last Friday night trading at 140050 yuan / ton, night trading to maintain a small horizontal concussion. Opened at 139800 yuan / ton in the morning, briefly maintained the volatility of the night market last Friday, under the influence of the continued entry of bulls, Shanghai Fuxi fluctuated all the way up, hitting the highest point of 142650 yuan / ton so far this year, and then arranged horizontally nearby. It closed at 142380 yuan / ton, up 2590 yuan / ton, up 1.85%, 31641 hands traded, 32211 positions, an increase of 3050 hands, showing a long positive line, and the physical part is above all moving averages. Today, the tin above Shanghai Stock Exchange has broken through all the platforms of the year, approaching the high point of September last year, and has broken through the Bollinger belt on the track. Since early April, Shanghai tin has been steadily moving upward near the 5-day moving average, the rising trend has not declined, we need to continue to observe the follow-up situation, weak below the effective stabilization, is expected to hit a high of 143600 yuan / ton in September last year. On the spot market, today's quotation is 139000 won 141500 yuan / ton. When quoted today, the morning futures market is basically the same as last Friday, so the net price remains unchanged. The subsequent price pull up, the manufacturer's quotation increases, the price is high and the downstream will to receive goods is cold, traders have a small amount of timely delivery, and then the factory quotation continues to rise with the futures price, and the transaction is light. The overall trading atmosphere in the Shanghai tin market is cold. Liter discount, the Shanghai tin 2008 contract set Yunxi 500 yuan / ton near, ordinary Yunzi level near the water, small brand discount 1000 yuan / ton.

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