[SMM Tin Morning News] Last Friday, there was a cross star in the Xiaoyang night market high jump in Lunxi.

SMM7, June 6:

Lunxi trend: Lunxi electronic trading opened last Friday at 16875 US dollars per ton, with a maximum of 16910 US dollars per ton and a minimum of 16780 US dollars per tonne. It closed at 16900 US dollars per ton, up 30 US dollars per ton, or 0.18 per cent. 93 lots were traded and 16950 positions were held, a decrease of 30 hands. Yesterday, LME inventory was 3530 tons, an increase of 50 tons over the previous period.

Lunxi electronic trading opened at US $16875 per tonne on Friday morning. After rising to US $16900 per tonne in early trading, there was little trading at the close of Asian trading. During the European session, Lunxi first fell, and then rebounded. At night, it jumped to the lowest point of the day, 16780 yuan / ton, rebounded after hitting the bottom, and then arranged sideways nearby. It fell first and then rose in late trading, hitting an intraday high of $16910 / ton and closing at $16900 / ton. It is a Xiaoyang line, the physical part is above all moving averages, and the lower shadow line is supported by the 10-day moving average. The upper pressure level is expected to be around $17000 / ton.

Shanghai tin trend: the Shanghai tin main 2009 contract opened at 140050 yuan / ton last Friday night, with a maximum of 140240 yuan / ton and a minimum of 139200 yuan / ton, closing at 139800 yuan / ton, up 10 yuan / ton, with a turnover of 9415 and a position of 29385, an increase of 224 hands.

The main 2009 contract of Shanghai tin opened as high as 140050 yuan / ton last Friday night, then fluctuated all the way down under the joint influence of long short forces, hitting the lowest point of 139200 yuan / ton in the night market, and then the bulls entered the market. Shanghai tin rebounded and the center of gravity moved up slightly. It closed higher at 139800 yuan / ton in late trading. It is a cross star, the physical part is above all moving averages, the upper pressure level is expected to be around 140500 yuan / ton, and the lower support level is expected to be around 138000 yuan / ton 10-day moving average.