SMM Tin Midday Review: High Prices Dampen Demand, Spot Market Sees "Price Without Market" Phenomenon

[SMM Tin Midday Review: High Prices Suppress Purchases, Tin Ingot Spot Market Shows "Price Without Market" Characteristics]

On March 17, 2025, the most-traded SHFE tin futures contract opened higher but moved downwards in the morning session. The most-traded 2504 contract opened at 284,000 yuan/mt, pulled back to 280,230 yuan/mt during the session, and closed at 281,870 yuan/mt at midday, down slightly by 0.31%. Open interest decreased by 5,874 lots, and market sentiment turned cautious. LME tin also retreated to $35,325/mt.

High prices suppress purchases: Currently, tin prices are at a high level of 282,000 yuan/mt, and downstream solder enterprises show low purchase willingness. Most spot tin is sold at significant discounts, exhibiting "price without market" characteristics.