Yesterday, SHFE tin prices surged strongly, while transactions in the spot market were relatively weak. [SMM Tin Morning News]

Published: Dec 31, 2024 08:52

Save

Yesterday, SHFE tin prices surged strongly, while transactions in the spot market remained relatively weak. [SMM Tin Morning Brief] Yesterday, SHFE tin futures prices demonstrated a steady performance. After the market opened, prices began to fluctuate as market activity gradually increased, but the overall trend remained stable. During trading, SHFE tin futures prices once reached an intraday high, indicating that bullish forces in the market were still strong. However, prices then dropped back slightly, possibly due to some investors taking profits. Nevertheless, SHFE tin futures prices remained at relatively high levels, reflecting the market's optimistic outlook on tin resources...

SMM Tin Morning Brief on December 31, 2024: Yesterday, SHFE tin futures prices exhibited a steady performance. After the opening, as the market gradually became active, prices began to fluctuate but maintained an overall stable trend. During trading, SHFE tin futures prices once touched the intraday high, indicating that the bullish momentum in the market remained strong. However, prices dropped back slightly afterward, possibly due to some investors taking profits. Despite this, SHFE tin futures prices remained at relatively high levels, reflecting the market's optimistic outlook on tin resources. By the close, the price of the most-traded SHFE tin futures contract settled at 246,850 yuan/mt, up 2,080 yuan/mt from the previous day's settlement price, marking a 0.85% increase. Although this gain was not significant, it was notable in the recent market environment, showcasing the stability and vitality of the tin market. From a technical analysis perspective, SHFE tin futures prices successfully broke through recent resistance levels yesterday, which could pave the way for further increases. However, investors should closely monitor market dynamics to guard against potential risks. Overall, the SHFE tin futures market performed impressively yesterday, with prices steadily rising. Supported by both fundamentals and technical factors, the market remains optimistic about the future trend of SHFE tin. Nevertheless, investors should remain cautious and adjust strategies flexibly based on actual conditions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Data: SHFE, DCE market movement (Mar 31)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 31 Mar , 2026

11 hours ago

15 hours ago

SUMCO Halts New Plant Project, Adjusts Subsidy & Focuses on Tech Upgrade

SUMCO, a major global silicon wafer manufacturer based in Japan, recently announced adjustments to its capacity expansion plans, putting its new plant project on hold and focusing resources on upgrading existing facilities and conducting R&D on advanced process technologies. It is understood that following this adjustment, the related subsidy amount SUMCO receives from Japan’s Ministry of Economy, Trade and Industry has been reduced from the originally planned 75 billion yuan to 19.3 billion yuan. The company stated that it will focus its development efforts on technological upgrades and capacity optimization at existing plants in places including Imari City, Saga Prefecture, while giving priority to advancing R&D on silicon wafer technologies suited to cutting-edge chip manufacturing processes and increasing capacity.

15 hours ago

Shenzhen Unveils 3-Year Plan to Boost Foreign Trade Efficiency with Tech Import Support

On March 30, the Shenzhen Municipal Commerce Bureau issued the Three-Year Action Plan of Shenzhen to Promote the Improvement of Quality and Efficiency in Foreign Trade—Special Measures for “Export Shenzhen.” It stated that support would be provided for the import of advanced technological equipment and key parts needed for the development of the “20+8” industrial clusters; enterprises would be guided and assisted in actively applying for national import interest subsidy support for technologies and products included in the Catalog of Technologies and Products Encouraged for Import; and “one-on-one” tax reduction and exemption guidance services would be provided for enterprises engaged in related frontier technology products. Personalized regulatory measures would be formulated for the import of important intermediate products required for the development of industries such as integrated circuits and flat-panel display modules, so as to promote the efficient input of key materials and components into R&D and production. Efforts would also be made to explore and advance pilot imports of used key parts for automotive R&D testing.

15 hours ago