In the short term, SHFE tin fluctuated rangebound, with resistance at the moving average. [[Institution's comment]]

On Tuesday, the most-traded SHFE tin contract rolled over to the SN2506 contract, fluctuating rangebound during the day and jumping initially and then pulling back at night. LME tin prices rose first and then fell. Spot market: It was heard that small-brand tin was trading at a premium of 200-600 yuan/mt over the May contract, Yunnan-branded tin was trading at a premium of 600-900 yuan/mt over the May contract, and Yunnan Tin Group's tin was trading at a premium of 900-1,200 yuan/mt over the May contract.

Overall, with the resumption of production at Bisie Mine in the DRC and the accelerated pace of production resumptions in Myanmar's Wa region, the tight supply situation for tin ore is expected to ease after Q2. However, short-term supply support remains. Downstream stockpiling ahead of the holiday is nearing its end, with cautious stockpiling at high prices. Domestic inventory remains at a high level compared to the same period last year. There are no new imbalances in the fundamentals, and it is expected that tin prices will hover around 260,000 yuan in the short term, facing significant pressure from the moving averages above.

(Source: Jinyuan Futures)