Some Bulls Took Profit and Exited, SHFE Tin Prices Showed a Fluctuating Downward Trend [SMM Tin Midday Review]

Today, the most-traded SHFE tin 2503 contract exhibited a trend of fluctuating downward. During the daytime session, SHFE tin futures prices weakened slightly before rebounding, with the midday settlement price pulling back to around the opening price of 257,000 yuan/mt. This reflects the cautious sentiment of market participants at the current price level. Most investors maintained a prudent attitude, with some bulls taking profits and reducing positions by 2,155 lots during the day.

In the spot tin market, tin ingot prices closely mirrored the movements in the futures market. Specifically, the quotation range for SMM #1 tin ingot was 255,900–257,900 yuan/mt, with an average price of 256,900 yuan/mt. Compared to the previous trading day's data, the average price dropped by 1,600 yuan/mt.

An in-depth analysis of the current market dynamics reveals that overall trading activity in the tin market increased today. The slight pullback in SHFE tin prices boosted purchasing interest among downstream and end-user enterprises, with some downstream and end-user enterprises initiating inquiries and planning to restock when tin prices decline further.