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[SMM Tin Morning News] Lunxi concussion upstream tin night market high jump in Shanghai
Jul 24,2020 09:45CST
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Source:SMM
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MM7 March 24:

Lunxi trend: Lunxi electronic trading yesterday opened at 17525 US dollars / ton, with a maximum of 17850 US dollars / ton and a minimum of 17445 US dollars / tonne. It closed at 17850 US dollars / ton, up 275 US dollars / ton, or 1.56%. The turnover is 458 lots, the position is 15858 lots, an increase of 205 lots. Yesterday's LME inventory was 3970 tons, down 15 tons.

Lunxi opened at US $17525 / ton yesterday morning, rose slightly in the morning, fell back in the afternoon, hit an intraday low of US $17445 / ton in the afternoon, rebounded after hitting the bottom, and rose sharply to around US $17800 / ton after the opening of the European trading. then fell back and sorted out horizontally. The evening shock upward, hit and closed at the intraday high of $17850 / ton, showing a long positive line, the physical part of the lower part is supported by the 5-day moving average, the upper pressure level is expected to be around $18000 / ton.

Shanghai tin trend: Shanghai tin main 2009 contract opened at 141950 yuan / ton last night, with a maximum of 142750 yuan / ton and a minimum of 141770 yuan / ton, closing at 142580 yuan / ton, up 1340 yuan / ton, or 0.95%. 18442 hands were traded and 20508 positions were held, a decrease of 3114 hands.

Yesterday, the main tin 2009 contract high jump in Shanghai opened at 141950 yuan / ton, and a large number of short sellers left after the opening. Shanghai tin concussion rose to the highest point of 142750 yuan / ton in the night market, and the bulls took profits after peaking, while Shanghai tin fell somewhat. Then rebounded to 142600 yuan / ton and horizontal shock finishing, closed at 142580 yuan / ton, showing a positive line, the lower part of the entity is supported by the 5-day moving average, and the upper pressure level is expected to be around 143500 yuan / ton.

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