High Prices Suppress Purchasing; Tin Ingot Spot Market Shows "Price Without Transactions" Characteristics [SMM Tin Midday Review]

Published: Mar 17, 2025 11:47

Save

[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 pulled back to $35,325/mt. High prices suppress purchases: Currently, tin prices are at a high level of 282,000 yuan/mt. Downstream solder enterprises show low purchase willingness, with most spot tin being sold at significant discounts, exhibiting "price without market" characteristics.

March 17, 2025 SHFE Tin Futures Most-Traded Contract Midday Commentary On March

17, 2025, the most-traded SHFE tin 2504 contract opened higher 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: Current tin prices at

282,000 yuan/mt remain high, with downstream solder enterprises showing weak purchase willingness. Most spot cargoes are sold at significant discounts, reflecting a "price without market" scenario.

Central Bank "Super Week" Impact: Ahead of the US Fed's interest rate meeting,

the US dollar index underwent technical corrections. Bullish funds turned cautious, with some withdrawing from the non-ferrous metals market. Technical Key Level Contest: The most-traded SHFE tin contract fluctuated above the 285,000 yuan/mt support level, while facing significant resistance at the 300,000 yuan/mt psychological threshold.

A breakthrough would require stronger momentum.

Currently, SHFE tin is in a phase of contention between supply-driven events and weak demand reality. In the short term, high-level fluctuations may persist, but attention should be paid to the progress of Congo's production resumption, inventory changes, and macro policy guidance. Investors need to balance short-term volatility with medium and long-term supply-demand imbalances, and respond rationally to market sentiment changes.

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

Feb 6, 2026 16:14

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

Feb 6, 2026 16:14

Feb 6, 2026 11:59

The Most-Traded SHFE Tin Contract Opened Lower and Then Traded Stronger, Spot Market Recovers Amid Downtrend [SMM Tin Midday Review]

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Opened Lower and Then Traded Stronger, Spot Market Recovers Amid Downtrend]

Feb 6, 2026 11:59

Feb 6, 2026 08:49

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]

[SMM Tin Morning Brief: The Most-Traded SHFE Tin Contract Fluctuated Rangebound During the Night Session, Downstream Enterprises Mostly Followed Up with Small-Lot Transactions]

Feb 6, 2026 08:49