The Issue of Resumption of Production in Myanmar Mining Areas Continues to Ferment, SHFE Tin Prices Fluctuate Rangebound [SMM Tin Midday Review]

Published: Feb 17, 2025 11:25

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【SMM Tin Midday Review: Myanmar Mining Area Resumption Issues Continue to Ferment, SHFE Tin Prices Fluctuate Rangebound】 This morning, the SHFE 2503 tin contract opened at 263,800 yuan/mt, quickly dropped to around 261,000 yuan/mt, and then fluctuated rangebound. By midday, the most-traded contract closed at 260,900 yuan/mt, down 90 yuan from the previous trading day. From the futures market, the balance of power between bulls and bears was even, and market sentiment was relatively cautious. With the uncertainty surrounding the resumption of production in Myanmar mining areas, investors adopted a conservative trading strategy, showing caution about the market's future direction. In terms of trading volume, it was basically flat compared to the previous trading day, indicating moderate market activity. Technically, the current price of the SHFE 2503 tin contract is located in a recent high-trading-volume area, facing resistance above while supported below. It is expected that from the afternoon to the night session, the contract will continue to maintain a sideways movement, with little chance of a significant unilateral trend. Investors should closely monitor market dynamics and changes in capital flows, managing position risks prudently. In summary, the SHFE 2503 tin contract showed stable performance by midday today, and it is expected to maintain a fluctuating trend in the near term. Investors are advised to remain cautious.

SHFE Tin 2503 Futures Midday Review

In the morning session, the SHFE tin 2503 contract opened at 263,800 yuan/mt, quickly dropped to around 261,000 yuan/mt, and then fluctuated rangebound. By midday, the most-traded contract closed at 260,900 yuan/mt, down 90 yuan from the previous trading day.

From the futures market perspective, the balance of power between bulls and bears was even, with a strong market sentiment of caution. Amid the uncertainty surrounding the resumption of production in Myanmar's mining areas, investors adopted a cautious outlook on future trends, leaning towards conservative trading strategies. In terms of trading volume, it was basically flat compared to the previous trading day, indicating moderate market activity.

Technically, the current price of the SHFE tin 2503 contract is located in a recent high-trading-volume area, facing resistance above while supported below. It is expected that the contract will maintain a sideways movement from the afternoon to the night session, with little chance of a significant unilateral trend. Investors should closely monitor market dynamics and changes in capital flows, managing position risks prudently.

In summary, the SHFE tin 2503 contract showed stable performance by midday today, and it is expected to maintain a fluctuating trend in the near term. Investors are advised to remain cautious and respond rationally to market fluctuations.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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