SMM7 March 16:
Lunxi trend: Lunxi electronic trading yesterday opened at 17260 US dollars / ton, with a maximum of 17390 US dollars / ton and a minimum of 17195 US dollars / tonne. It closed at 17295 US dollars / ton, up 10 US dollars / ton, or 0.06%. The trading volume was 175lots and positions were 16009 lots, a decrease of 807lots. Yesterday's LME inventory was 3965 tons, unchanged from the previous value.
Yesterday morning, Shanghai tin opened at 17260 US dollars / ton, but there was almost no trading in the morning. Affected by the fall in the dollar index in the afternoon, Shanghai tin fluctuated upwards. After the Asian market closed, it climbed to the intraday high of 17390 US dollars / ton, and then rebounded. All the way down to the intraday lowest point of 17195 US dollars / ton, it rebounded somewhat after the bottom, closing at 17295 US dollars / ton, showing a Xiaoyang line, and the physical part was located near the 5-day moving average. The upper pressure is expected to be around $17450 / ton.
Shanghai tin trend: the Shanghai tin main 2009 contract opened at 142480 yuan / ton last night, with a maximum of 142480 yuan / ton and a minimum of 140250 yuan / ton, closing at 141140 yuan / ton, down 1000 yuan / ton, 23193 lots, 29817 positions, an increase of 50 hands.
Last night, Shanghai tin opened at 142480 yuan / ton, entered the market after the opening, fluctuated all the way down, found the lowest point of the night market of 140250 yuan / ton, then the short part left the market, some pullback and swung in the vicinity of 141000 yuan / ton, closing at 141140 yuan / ton, showing a long overcast line, the physical part is located near the 5-day and 10-day moving average, which is supported by the 20-day moving average, and the lower support level is expected to be around 140000 yuan / ton.