SMM, July 21:

Shanghai tin main 2009 contract opened at 140110 yuan / ton last night, opened slightly higher after shock uplink, after the mid-market began to shake, the center of gravity moved down slightly. Opened at 141930 yuan / ton in the morning, opened slightly higher and then fell back, began to shock uplink in the afternoon, rose more than in the afternoon, touched the highest point of 142500 yuan / ton in the day. After reaching the peak, the pullback and concussion went down, closing at 141460 yuan / ton, up 1180 yuan / ton, or 0.84%, with 38475 hands traded, 27569 positions and an increase of 280 hands, showing a positive line. Today, Shanghai tin has not been effectively broken along with the upper part, but the solid part sits firmly below the 20-day moving average, without the lower shadow line, and the lower 20-day moving average support is more stable. Combined with the trend of Lunxi, it is expected that Shanghai tin will stabilize above the 5-day moving average. The upper pressure level is around 142500 yuan / ton.