SHFE Tin Prices Maintain a Fluctuating Trend as the Spot Market Gradually Enters the Holiday Season [SMM Tin Midday Review]

[SMM Tin Midday Review: SHFE Tin Prices Maintain a Fluctuating Trend, Spot Market Gradually Enters Holiday Mode] The SHFE tin futures market exhibited some price fluctuations. The most-traded SHFE tin contract opened the day at 248,600 yuan, with market sentiment appearing relatively cautious. During the morning trading session, SHFE tin prices experienced slight fluctuations, with the latest price reaching 248,170 yuan, a slight decline from the opening price, representing a % change of -0.03%. In the spot market, the price trend of tin ingots mirrored that of the futures market. The SMM 1# tin ingot price range was 246,900–248,900 yuan, with an average price of 247,900 yuan, also down by 1,500 yuan/mt. In terms of market dynamics, today's spot market trading atmosphere was relatively subdued, with downstream enterprises mostly making just-in-time procurement. Overall, market sentiment leaned towards a wait-and-see approach. This was primarily due to recent significant fluctuations in tin prices, leading to differing opinions among market participants regarding price trends, prompting many to adopt a cautious stance. Additionally, with the Chinese New Year approaching, some downstream enterprises have gradually entered holiday mode, resulting in reduced demand for raw material procurement...