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[SMM Tin Morning News] yesterday, Lunxi first suppressed and then rose, showing a pullback after the rise of the Shanghai tin high jump on the Yang Line.
Jul 17,2020 09:22CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 17:

Lunxi trend: Lunxi electronic trading yesterday opened at 17225 US dollars per ton, with a maximum of 17385 US dollars per ton and a minimum of 17055 US dollars per tonne, closing at 17340 US dollars per ton, up 45 US dollars per ton, or 0.26 per cent, with a turnover of 215 lots and 15730 positions, a decrease of 279 lots. Yesterday's LME inventory was 3855 tons, down 55 tons.

Yesterday morning, Lunxi opened at US $17225 / ton, trading was light in the morning, it was lowered in the afternoon, and it began to shock down in the afternoon, reaching the intraday low of US $17055 / ton, and rebounded somewhat after hitting the bottom. The Asian market began to wobble horizontally before and after closing, and the evening shock went up, hitting the intraday high of US $17385 / tonne. Then there was a pullback and closed at US $17340 / tonne. Yesterday, the whole Lunxi showed a trend of first suppressing and then rising, showing a positive line. The physical part is located near the five-day moving average and the upper pressure level is expected to be at $17450 / ton.

Shanghai tin trend: Shanghai tin main 2009 contract opened last night at 140620 yuan / ton, the highest 142150 yuan / ton, the lowest 140620 yuan / ton, closed at 141460 yuan / ton, up 1540 yuan / ton, 21456 hands, 29738 positions, an increase of 13 hands.

Last night, the tin jump in Shanghai opened at 140620 yuan / ton. After the opening, the bulls entered the market, fluctuated all the way up, reached the highest point of 142150 yuan / ton in the night market, and then the bulls left the market and closed at 140620 yuan / ton, showing a positive line. The physical part is located below the 5-day and 10-day moving average, and the upper pressure level is expected to be around 141500 yuan / ton.

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