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[selected SMM Weekly report] the support of the Shanghai-tin 20-day moving average is quite stable and is expected to fluctuate slightly upward along the five-day moving average in the short term.
Jul 25,2020 00:37CST
translation
Source:SMM
[selected SMM Weekly report: Shanghai-tin 20-day moving average support is quite stable and expected to rise slightly along the five-day moving average in the short term] Shanghai Fuxi tin has been running above the 20-day moving average since the beginning of April, and the 20-day moving average support is quite stable. recently, due to the escalation of conflicts between China and the United States, the market risk aversion has increased, and the Shanghai tin main line has changed from the previous day's high to clinging to the lower 5-20 moving average. It is expected that in the short term, Shanghai tin will fluctuate slightly upward along the five-day moving average, with the upper pressure level near the weekly high of 143700 yuan / ton.
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"SMM Tin Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of SMM tin industry chain:

The Shanghai tin main 2009 contract opened this week at 141200 yuan / ton. at the beginning of the week, the 10-day moving average was between the 20-day moving average, and the center of gravity moved up in the middle of the week, breaking through the 5-day and 10-day moving average. after that, the theme of the daily K-line basically ran steadily above the 5-day moving average, and the overall shock rose, reaching a weekly high of 143770 US dollars / ton. after peaking, it fell back to near the 5-day and 10-day moving average, and then rose again, and after it was pulled up on Friday, Under the influence of China's closure of the US Embassy in Chengdu, the bulls left the market in the afternoon in the mood of risk aversion. Shanghai tin fell back to close at 141840 yuan / ton, rising 570 yuan / ton, or 0.40%, during the week, trading 198000 hands, holding 15622 hands, reducing 13013 hands, showing a small positive line, the shadow line received 5-day moving average support. In terms of indicators, the weekly K line is still slightly moving forward to the Bollinger belt, and the opening of the MACD index is still upward; the daily K line fluctuates widely between the middle tracks on the Bollinger belt, and the MACD index fast line is below the slow line. Shanghai tin has been running above the 20-day moving average since the beginning of April, and the 20-day moving average support is quite stable. recently, due to the escalation of contradictions between China and the United States, the market risk aversion has increased. The Shanghai tin main line has changed from the previous day's high to clinging to the lower 5-20 moving average. It is expected that in the short term, Shanghai tin will fluctuate slightly upward along the five-day moving average, and the upper pressure level is near the weekly high of 143700 yuan / ton. We need to pay attention to the impact of the development of Sino-US contradictions on macro investment sentiment, as well as the impact of the future on the downstream exports of the tin industry.

On the spot side, the price at the beginning of the week was lower than that at the end of last week, but due to the good deal last Thursday, downstream manufacturers still have some inventory, so the market transaction is general, the subsequent two-day spot prices rise, downstream buying interest is cold, rigid demand procurement. Traders are less willing to accept goods because they are worried that it is difficult to ship goods because of poor downstream demand and futures prices continue to rise. Spot prices fell on Thursday, with manufacturers restocking at bargains and traders selling inventories. As prices rebounded on Friday, and on weekends, the market was cold. In terms of liter discount, this week's spot on the Shanghai tin 2009 contract Yunxi and small card discount generally rose first and then suppressed, Yunzi basically returned to the vicinity of Pingshui, and the small brand discount expanded. Before this Thursday, due to the downward shift of the center of gravity of the market, the center of gravity of the discount rose at the beginning of the week. The price of tin in Shanghai on Friday is higher than that of last Friday, so the center of gravity of the discount on Friday is lower than that of last Friday.

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