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

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.