SMM Tin Midday Review: Price Rangebound as Myanmar Resumption Hopes Meet Short-Term Supply Challenges

[SMM Tin Midday Review: Myanmar's Resumption Expectations Clash With Short-Term Reality, The Most-Traded SHFE Tin Contract Remains Rangebound]

This morning, the most-traded SHFE tin 2504 contract continued to fluctuate within a rangebound pattern, with prices hovering around 256,000 yuan/mt. As of the midday close, the most-traded contract was temporarily quoted at 255,700 yuan/mt, slightly higher than the previous trading day's (March 4) closing price. Overall, trading remained cautious, and open interest stayed stable.

Myanmar's resumption expectations clash with short-term reality: While expectations for the resumption of tin mining in Wa State, Myanmar, persist, actual production requires a three-month preparation period. The short-term tight supply of ore has not fundamentally changed. Additionally, the escalation of M23 armed conflict in the DRC threatens local tin ore transportation, further exacerbating supply-side uncertainties.