[SMM Tin Morning News] Lunxi fluctuated slightly during the day and rose slightly in Shanghai. Tin shock rose in late trading.

SMM7, March 3:

Lunxi trend: Lunxi electronic trading opened yesterday at 16775 US dollars / ton, with a maximum of 16870 US dollars / ton and a minimum of 16760 US dollars / tonne. It closed at 16845 US dollars / ton, up 85 US dollars / ton, or 0.51%. 147lots were traded and 16980 positions were held, a decrease of 200lots. LME inventory yesterday 3480 tons, 50 tons less than the previous period.

Lunxi electronic trading opened at 16775 US dollars / ton yesterday, with little trading in the morning. Before the opening of European trading, it rose under the influence of the decline of the US index. After the Asian market closed, it climbed to the intraday high of 16870 US dollars / ton. After reaching its peak, it fell back to the intraday low of 16760 US dollars / ton, then bottomed out and the concussion rose to close at 16845 US dollars / ton. The day is positive, the physical part is located near the 5-day, 10-day and 20-day moving average, and the upper pressure level is expected to be at 16950 US dollars / ton.

Shanghai tin trend: the Shanghai tin main 2009 contract opened at 138300 yuan / ton last night, with a maximum of 139500 yuan / ton and a minimum of 138080 yuan / ton, closing at 139320 yuan / ton, up 970 yuan / ton, 13663 lots, 26334 positions, an increase of 1407 lots.

Shanghai tin opened at 138300 yuan / ton last night, fell slightly after the opening, reached the lowest point of 138080 yuan / ton in the night market, and then fluctuated downward under the influence of bulls. There was a pullback in the middle of the night market, and it was arranged horizontally. It rose sharply at the end of the day, reaching its highest point of 139500 yuan / ton, closing at 139320 yuan / ton, showing a positive line, and received five-day moving average support below the physical part. Shanghai tin price is now at a high level before the year ago. If it can effectively break 139500 yuan / ton, the upper pressure level is expected to be near the year-ago high of 140500 yuan / ton.