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[SMM Tin Morning News] yesterday, Lunxi rose first and then suppressed it and gave up its decline after opening in Shanghai.
Jul 29,2020 09:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

On the 29th of the month of SMM7:

Lunxi trend: Lunxi electronic trading yesterday opened at 18030 US dollars / ton, with a maximum of 18250 US dollars / ton and a minimum of 17900 US dollars / tonne. It closed at 18025 US dollars / ton, down 25 US dollars / ton, or 0.14%. The trading volume was 506 lots and the position was 16194 lots, a decrease of 37 lots. Yesterday, LME inventory was 3825 tons, down 50 tons.

Yesterday morning, Lunxi opened at US $18030 / ton. In the morning, with the domestic Shanghai Scylla rising above to the intraday high of US $18250 / ton, it fell back somewhat after reaching its peak, and the center of gravity gradually moved downwards in the afternoon. It explored the intraday lowest point of US $17900 / ton in the evening, rebounded somewhat after hitting the bottom, closed at US $18025 / ton, and showed a cross star within the day. The physical part was above all moving averages, and the upper pressure level is expected to be around US $18200 / ton. The lower pressure level is around $17900 / ton.

Shanghai tin trend: Shanghai tin main 2010 contract opened at 148710 yuan / ton last night, the highest was 149400 yuan / ton, and the lowest was 145650 yuan / ton. It closed at 149200 yuan / ton, up 1030 yuan / ton, or 0.70%. 22446 hands were traded and 24005 positions were held, an increase of 1219 hands.

Yesterday night, the main tin 2010 contract in Shanghai opened at 148710 yuan / ton. after the opening, the short sellers jumped sharply, explored the lowest point of the night market at 145650 yuan / ton, rebounded somewhat after hitting the bottom, and swung upwards under the main force of the bulls, closing at 149200 yuan / ton, showing a positive line, the physical part is above all moving averages, and the upper pressure level is expected to be around 152000 yuan / ton.

Morning news

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