[SMM Tin Morning News] yesterday, Lunxi first suppressed and then rose and then jumped at the end of the night when the tin night market in Shanghai was on the positive line.

Published: Jul 14, 2020 09:09

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SMM7 March 14:

Lunxi trend: Lunxi electronic trading yesterday opened at US $17180 / ton, with a maximum of US $17475 / ton and a minimum of US $17180 / tonne, and closed at US $17380 / tonne, up US $180 / ton, or 1.05%. The turnover was 302 lots and the position was 17341 lots, a decrease of 174lots. Yesterday, LME inventory was 3965 tons, down 10 tons.

Lunxi opened at 17180 US dollars / ton yesterday morning, followed the entire metal market to 17450 U.S. dollars / ton in the morning, began to fluctuate before noon, and began to have a downward trend before and after the opening of the European market. It reached an intraday low of 17180 US dollars / ton in the evening and rebounded after hitting the bottom. The shock upward hit a daily high of 17475 US dollars / ton, and then rebounded to 17380 US dollars / ton, showing a positive line. Below it is supported by the 5-day moving average, if it can effectively break 17500 US dollars / ton. The next pressure level above is expected to be $17650 / tonne.

Shanghai tin trend: Shanghai tin main 2009 contract opened last night at 143900 yuan / ton, the highest 144000 yuan / ton, the lowest 142680 yuan / ton, closed at 142820 yuan / ton, down 1080 yuan / ton, 19962 hands, 30064 positions, a decrease of 406 hands.

Last night, tin opened low at 143900 yuan / ton in Shanghai, then fluctuated in the nearby horizontal market, the center of gravity in the middle of the market moved upward, and reached the intraday highest point of 144000 yuan / ton. The last jump closed at 142820 yuan / ton, showing a negative line, and the lower support level is expected to be around 141000 yuan / ton.

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