On the morning of January 20, 2025, the SHFE tin futures market experienced some price fluctuations. The most-traded SHFE tin contract opened the new trading day at 248,600 yuan, with market sentiment appearing relatively cautious. During the morning trading session, SHFE tin prices showed slight fluctuations, with the latest price reaching 248,170 yuan, a slight decrease from the opening price, representing a % change of -0.03%.
In the spot market, the price trend of tin ingots echoed that of the futures market. The price range of SMM 1# tin ingot was 246,900 yuan to 248,900 yuan, with an average price of 247,900 yuan, also down by 1,500 yuan/mt.
In terms of market dynamics, the spot market trading atmosphere was relatively subdued today, with downstream enterprises mostly making just-in-time procurement, and the overall market sentiment was largely cautious. This was mainly due to the recent significant fluctuations in tin prices, leading to differing judgments among market participants regarding price trends, prompting most to adopt a wait-and-see attitude. Additionally, with the Chinese New Year approaching, some downstream enterprises have gradually entered holiday mode, resulting in reduced demand for raw material procurement.
![The Most-Traded SHFE Tin Contract Opened Lower and Then Traded Stronger, Spot Market Recovers Amid Downtrend [SMM Tin Midday Review]](https://imgqn.smm.cn/usercenter/WWXJU20251217171753.jpg)
![The most-traded SHFE tin contract fluctuated rangebound during the night session, with downstream enterprises mostly following up with small-lot transactions. [SMM Tin Morning Brief]](https://imgqn.smm.cn/usercenter/bYFQn20251217171752.jpg)
