SMM, July 22nd:
The main 2009 contract of Shanghai tin opened at 142170 yuan / ton last night. After opening, it rose slightly and then fluctuated down, and opened at 142010 yuan / ton in the morning. After opening, the short positions left Shanghai tin market to pull up slightly, then the bulls entered the market, and Shanghai tin concussion rose. In the afternoon, it hit the intraday high of 143770 yuan / ton. After reaching the peak, it pulled back and closed at 142790 yuan / ton, up 1330 yuan / ton, or 0.94%. The trading volume was 40806 lots, and the position volume was 26738 lots, a decrease of 884%. It's a positive line. It is necessary to guard against the impact of Sino-US relations on the market. In the short term, bulls' risk aversion and pessimistic expectations on the macro-economy may cause greater pressure on the tin in Shanghai. The upper pressure level is expected to be around 144000 yuan / ton. The lower support level is around 141500 yuan / ton, the 10-day moving average.