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[selected SMM Weekly] tin peaked in Shanghai spit out an increase in the lower reaches of the spot market.
Jul 11,2020 14:25CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

"SMM Tin Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of SMM tin industry chain:

 

This week's Shanghai tin 2009 contract, guided by the stock market and macro sentiment at the beginning of the week, rose sharply after opening, hitting a year-to-date high of 142800 yuan / ton before peaking a pullback. In the middle of the week, it was mainly affected by bulls leaving the market, and tin in Shanghai showed a downward trend of concussion. It opened high and left low on Friday night, and the decline continued unabated after opening in the morning. during the last trading period, the lowest point in the week was 138610 yuan / ton, closing at 138900 yuan / ton. During the week, it fell 890 yuan / ton, or 0.64%, to 167000 hands and 29567 positions, an increase of 406 hands. The weekly line level is a small Yin line, and the physical part is above all moving averages. In terms of indicators, the weekly-level MACD opening is upward, the K-line has the intention to impact on the upper rail of the Bollinger belt, but there is pressure above, and the daily-level MACD index forms a dead fork, and the K-line breaks through the upper rail of the Bollinger belt at the beginning of the week and then goes down under pressure. The bulls on the disk have obvious departure and profit-taking trend, but they have not yet fallen below the previous platform line, and there is still a 20-day moving average at the bottom of the platform line. Next week, we need to continue to pay attention to whether the main bulls return to the market, the lower support level is expected to be located near 137500 yuan / ton in the middle rail of the day-level Bollinger belt, and the upper pressure level is around 143000 yuan / ton.

This week, the Shanghai-tin spot market generally follows the Shanghai tin market, showing a trend of rising first and then suppressing it. Affected by the good news of the stock market at the beginning of the week, tin in Shanghai rose sharply at the beginning of the week, and the spot price rose by about 1000 yuan / ton. the price of tin was high, and the downstream just needed to collect goods. Traders held a wait-and-see attitude, and the overall spot market of Shanghai and tin was afraid of heights and wait-and-see. The futures market rose sharply, the spot price rose less than the spot price, and the rising water decreased greatly compared with last Friday. Yunxi rose 1500 yuan / ton to around 500 yuan / ton, Yunzi rose 1000 yuan / ton to near flat water, and the ordinary small brand dropped from flat water to 1000 yuan / ton. Subsequently, the futures market fell somewhat, showing a concussive downward trend, and the spot price also fell. On Friday, the Shanghai tin futures opened high and opened low from the night market, hit the lowest point of the week below, and the spot price also fell. On Friday, the average spot price of Shanghai tin was about 140000 yuan / ton. In terms of discount, Yunxi and Yunzi of Shanghai tin 2008 contract fell by about 1000 yuan / ton compared with last week, while the small brand dropped from near flat water to 1000 yuan / ton.

 

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Main points of this issue's weekly report

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Spot market

Review of tin ingot market

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[China Tin Industry chain High-end report] China Tin Industry chain monthly report includes macro interpretation, monthly tin price review, hot event interpretation and future forecast of various sections of the tin industry chain (tin ingots, tin mines). And release monthly relevant enterprise operating rate and inventory survey and other data, covering the entire tin industry chain.

[China Tin Industry chain routine report] China Tin Industry chain Weekly report includes macro interpretation, weekly tin price review, market trends such as various sections of the tin industry chain (tin ingots, tin mines), weekly social inventory, and future forecasts. a comprehensive interpretation of the tin market during the week.

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