SHFE Tin Prices Show Initial Downward Trend, Spot Market Transactions Remain Mediocre [SMM Tin Morning Brief]

SMM Tin Morning Brief on January 2, 2025: On the previous trading day, SHFE tin futures prices showed a clear pullback trend. SHFE tin prices began to fluctuate but maintained an overall downward trend. During the trading session, SHFE tin futures prices once pulled back to 243,000 yuan/mt, indicating a retreat of bullish forces and significant entry of bearish positions. However, prices later rebounded slightly, possibly due to profit-taking by some bearish investors. By the close, the price of the most-traded SHFE tin futures contract settled at 245,000 yuan/mt. From a technical analysis perspective, various indicators for SHFE tin futures prices weakened, suggesting insufficient upward momentum in the future. However, considering the approach of the year-end, the spot market is gradually tightening, which may provide some support for SHFE tin. Nevertheless, investors should closely monitor market dynamics to guard against potential risks. Overall, the SHFE tin futures market performed weakly, with prices pulling back to previous levels. Supported by both fundamentals and technical factors, the market's outlook for SHFE tin leans more towards maintaining a volatile trend. Investors are advised to remain cautious and adjust strategies flexibly based on actual conditions.