SHFE Tin Prices Continue to Rise While the Spot Market Becomes Increasingly Sluggish [SMM Tin Midday Review]

[SMM Tin Midday Review: SHFE Tin Prices Continue to Rise, Spot Market Becomes Increasingly Quiet] During today's daytime session, prices continued to rise, extending yesterday's upward trend. Benefiting from the overall boost on the macro front, base metals experienced a broad-based rally today. Specifically, the Ministry of Commerce recently addressed work arrangements to boost consumption and stabilize foreign trade, emphasizing the effectiveness and follow-up measures of the trade-in policy for consumer goods. In 2024, the trade-in policy is expected to drive related product sales exceeding 1.3 trillion yuan. The Ministry of Commerce plans to successively release detailed implementation guidelines for subsidies on new purchases of automobiles, home appliances, home furnishings, electric bicycles, and digital products such as mobile phones. Among them, subsidies for new home appliances can reach up to 2,000 yuan per unit, while subsidies for mobile phones and other digital products can go up to 500 yuan per unit, marking the first time mobile phones and similar digital products are included in the subsidy scope. To ensure a smooth policy transition, if central funds are exhausted, the excess portion will be supported by local funds. Overall, SHFE tin prices were boosted by macro factors today, showing a continued upward trend and are expected to consolidate at high levels. Considering the recent stability in fundamentals, SHFE tin prices may maintain a high-level fluctuating trend...