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[SMM Tin Morning News] yesterday, after rising twice, Lunxi fell back and the center of gravity of tin night market in the period of overcast and Shanghai moved down.
Jul 30,2020 08:53CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 30:

Lunxi trend: Lunxi electronic trading yesterday opened at 18025 US dollars / ton, with a maximum of 18160 US dollars / ton and a minimum of 17900 US dollars / tonne. It closed at 17960 US dollars / ton, down 65 US dollars / ton, or 0.36%. The trading volume was 26 lots, and the position was 16408 lots, an increase of 214 lots. Yesterday's LME inventory was 3995 tonnes, an increase of 170t.

Lunxi opened at 1802518025 US dollars / ton in the morning, rose to 18140 U.S. dollars / ton in the morning, then shook down, and fluctuated around 18000 U.S. dollars / ton. It rose again in the evening, touched the intraday high of 18160 U.S. dollars / ton, fell sharply after reaching its peak, and fluctuated all the way down. The lowest point in the next contact day was 17900 U.S. dollars / ton, and then it closed at 17960 U.S. dollars / ton, showing a negative line, and the lower shadow line received five-day moving average support. The lower support level is expected to be near the five-day moving average of 179000 US dollars / ton.

Shanghai tin trend: Shanghai tin main 2010 contract opened at 146720 yuan / ton last night, with a maximum of 148170 yuan / ton and a minimum of 146550 yuan / ton, closing at 146800 yuan / ton, down 770 yuan / ton, or 0.52%. 24746 hands were traded and 25261 positions were held, a decrease of 575 hands.

Yesterday, the main tin 2010 contract in Shanghai opened at 146720 yuan / ton, and the opening price fluctuated widely, hitting the intraday high of 148170 yuan / ton above. Then the concussion range narrowed somewhat, the horizontal market was arranged, and the center of gravity gradually moved down slightly. Below hit the lowest point of 146550 yuan / ton in the night market, closing at 146800 yuan / ton. It is a Xiaoyang line, the physical part is above all moving averages, and the upper pressure level is expected to be around 148000 yuan / ton.

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