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[SMM Tin Morning News] Last Friday, Lunxi first suppressed and then raised Changyang in the tin night market in Shanghai.
Jul 13,2020 10:56CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7.13 News:

Lunxi trend: Lunxi electronic trading opened at 17205 US dollars / ton last Friday, with a maximum of 17380 US dollars / ton and a minimum of 16820 US dollars / tonne. It closed at 17200 US dollars / ton, down 50 US dollars / ton, with a turnover of 598 lots and a position of 17515 lots, an increase of 460 lots. Last Friday, LME stocks increased by 55 tons to 3975 tons.

On Friday, Lunxi first suppressed and then rose. Last Friday, it opened at US $17205 / tonne. Trading was light in the morning, fell slightly in the afternoon, and briefly swung sideways. After the Asian market closed, Lunxi shook downwards to explore the intraday low of US $16820 / tonne. It rebounded after hitting the bottom, fluctuated all the way up, explored the intraday high of US $17380 / tonne, and then pulled back to close at US $17200 / tonne. It is a cross star, the physical part is above all moving averages, the upper pressure level is expected to be at $17500 / ton, and the lower support level is at $17000 / ton.

Shanghai tin trend: the Shanghai tin main 2009 contract opened at 138900 yuan / ton last Friday night, with a maximum of 142000 yuan / ton and a minimum of 138760 yuan / ton, closing at 141740 yuan / ton, up 2840 yuan / ton, with a turnover of 27047 and a position of 29014, a decrease of 553.

Last Friday, Shanghai tin night trading opened at 138900 yuan / ton. Then, under the influence of short sellers leaving, Shanghai tin fluctuated up to around 141600 yuan / ton, then arranged horizontally, rose slightly in late trading, and touched the highest point of 142000 yuan / ton in night trading to close at 141740 yuan / ton. Along the Changyang line, the physical part is located near the 5-day and 10-day moving average, and the upper pressure level is expected to be around 145000 yuan / ton.

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