SHFE Tin Prices Surge Strongly, Spot Market Temporarily Stagnant [SMM Tin Midday Review]

Today, the SHFE tin futures market exhibited a strong upward trend. At the opening, the most-traded SHFE tin contract jumped to 250,000 yuan/mt, reflecting the market's optimistic outlook for future trends after the Chinese New Year holiday. During the morning trading session, SHFE tin prices continued to rise, with the latest transaction price settling at 254,740 yuan/mt, marking a significant increase from the opening price and an overall % change of 2.64%.

In the spot market, tin ingot prices adjusted in tandem with the futures market. Specifically, the price range for SMM #1 tin ingot was between 252,400 yuan and 254,800 yuan, with an average price of 253,600 yuan, up by 4,800 yuan/mt from the previous day. This adjustment aligned with the fluctuations in the futures market.

Analyzing market dynamics, the spot market today appeared relatively quiet. As a few downstream and end-user enterprises resumed operations after the Chinese New Year holiday, and logistics companies across regions gradually resumed work, trading activities in the spot market remained nearly stagnant. Considering that most downstream and end-user enterprises have not yet returned from the holiday, the spot market is expected to maintain this subdued atmosphere later this week. Additionally, the majority of spot traders have not resumed work, further exacerbating the market's inactivity. Overall, post-holiday market trading has yet to recover.