SMM, 15 October:
Trend: Lunxi Electronics opened yesterday at $16600 / tonne, up to $16675 / tonne and as low as $16475 / tonne, closing at $16550 / tonne, down $90 / tonne. A total of 226 hands were traded throughout the day, and 18486 hands were held, an increase of 269 hands. Inventory was 6590 tons, 15 tons less than in the previous period.
Lunxi electronic disk yesterday after the opening of $16600 / ton, the Asian session overall maintained in the vicinity of the opening price shock finishing. After the opening of the European market, Lunxi all the way down to a daily low of $16475 / ton after hitting the bottom, erased the previous nearly half of the decline, and finally closed at $16550 / ton, showing a small negative line, the physical part is located near the 40-day moving average, the lower shadow line is supported by the 5-20 moving average, and the support below Lunxi is expected to be around the 5-20 moving average of $16500 / ton, and the upper resistance is around the 60-day moving average of $16800 / ton.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night 137350 yuan / ton, the highest 137770 yuan / ton, the lowest 136180 yuan / ton, closed 136940 yuan / ton, down 280 yuan / ton. 15044 hands were traded and 40124 hands were held, a decrease of 68 hands.
After the Shanghai tin main force 2001 contract opened 137350 yuan / ton last night, it was maintained at the beginning of the day 137300 yuan / ton horizontal finishing, and then Shanghai tin quickly fell to a night low of 136180 yuan / ton and then hit bottom and returned to the bottom of the opening price. Finally, it closed at 136940 yuan / ton, showing a small negative line. The physical part is located near the 20-day moving average, and the lower shadow line goes to the 5-day moving average and is supported by the 10-day moving average. It is expected that the resistance above Shanghai tin is near the 20-day moving average of 137500 yuan / ton, and the lower support is near the 10-day moving average of 136200 yuan / ton.
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