[SMM brief Review] tin rose more than 2% at the opening of trading in Shanghai. The strength accumulation broke the previous day's high.

Published: Jul 27, 2020 09:53

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SMM7 March 27: in morning trading, non-ferrous metals generally rose, with half of the varieties up more than 1%. Among them, Shanghai tin was the first to open and pull up. As of 09:45, the main contract of Shanghai tin 2009 was at 145330 yuan / ton, an increase of nearly 2%.

Shanghai tin has maintained a strong trend since the end of April, stabilizing above the 20-day moving average and rising in shock. On July 13, the domestic macro-economy improved, the market mood was high, the stock market led the metal disk to rise, and the overall bulls were strong. Last Wednesday and Friday, Shanghai tin twice intended to push higher, affected by the closure of the Chinese embassy in Houston by the United States and the subsequent Chinese reaction, Shanghai tin fell back under the market risk aversion, but the bulls are still accumulating strength. The mood recovered on Friday night and this morning, and prices were able to rise above their previous day highs.

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