[SMM Tin Morning News] during Labour Day holiday, Lunxi showed a slow concussion upward trend.

SMM5, June 6:

Trend: Lunxi electronic market yesterday opened at $15145 / tonne, as high as $15280 / tonne, as low as $15095 / tonne, closing at $15180 / tonne, up $60 / tonne. A total of 147 hands were sold throughout the day, and 17186 hands were held, a reduction of 205 hands. Stocks were 5100 tons, 170 tons less than in the previous period.

After opening at US $14990 / ton on May 1, affected by the rise in crude oil prices, the Lunxi electronic disk generally showed a volatile upward trend during the May Day holiday. After the opening of the Asian session yesterday, Lunxi generally maintained a horizontal arrangement near the opening price of $15145 / ton, while after the opening of the European market, it maintained a wide concussion near the daily average of $15200 / ton and hit an intraday high of $15280 / tonne. The lowest fell to an intraday low of $15095 / tonne, and finally closed at $15185 / tonne, up $195 / tonne from the opening of trading on May 1. Yesterday, Lunxi closed with a small positive line, the physical part of the bottom by the 5-day moving average support, the lower shadow line is located near the 10-day moving average. The lower support of Lunxi is expected to be near the integer level of $15000 / tonne, and the upper resistance is expected to be around $15500 / tonne.