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[SMM Tin Morning News] after the Lunxi shock, the tin jumped out of the air to receive the negative after the night market jump in Shanghai.
Jul 31,2020 08:57CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 31:

Lunxi trend: Lunxi Electronics opened at 17985 US dollars / ton yesterday, the highest was 17990 US dollars / ton and the lowest was 17700 US dollars / tonne. It closed at 17780 US dollars / ton, down 180 US dollars / ton, or 1.00%. 309 lots were traded and 16564 positions were held, an increase of 156 hands. LME inventory yesterday was 4015 tons, an increase of 20 tons.

Lunxi opened at $17985 / ton yesterday morning, with little trading in the morning, fluctuated widely in the afternoon, the center of gravity moved down, jumped to the intraday lowest point of $17700 / ton in the evening, rebounded to close at $17780 / ton, showing a negative line, the physical part was located near the 5-day moving average, the lower shadow line received 10-day moving average support, and the lower support level is expected to be near the 10-day moving average of 17700 US dollars / ton.

Shanghai tin trend: Shanghai tin main 2010 contract opened at 146890 yuan / ton last night, with a maximum of 147210 yuan / ton and a minimum of 145220 yuan / ton, closing at 145380 yuan / ton, down 1900 yuan / ton, or 1.29%. 28182 hands were traded and 26151 positions were held, a decrease of 293 hands.

Yesterday, the main tin 2010 contract of Shanghai Stock Exchange opened at 146890 yuan / ton yesterday, with a small rebound reaching the highest point of 147210 yuan / ton in the night market, and then the bulls jumped down to the lowest point of 145220 yuan / ton after a sharp departure. After hitting the bottom, they rebounded and swayed horizontally, and the center of gravity moved down somewhat. In the last session, it jumped slightly and closed at 145380 yuan / ton, showing a negative line. The physical part is located between the 5-day moving average and the 10-day moving average, and the upper shadow line is under pressure on the 5-day moving average. The lower support level is expected to be near the 10-day moving average of 144397 yuan / ton.

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