Supply-demand pattern tightness supports SHFE tin to rise nearly 4% in afternoon session LME tin strength drives SHFE and LME resonance rise [SMM Tin Noon Review]

During the midday session on December 12, 2025, SHFE tin futures markets rose sharply across the board. The most-traded contract, 2601, closed at 331,160 yuan/mt at midday, surging by 12,620 yuan from the previous day's settlement price, a gain of 3.96%, and once hit a high of 333,230 yuan/mt during the session. Domestic market sentiment was exuberant, with trading volume and open interest expanding significantly and fierce capital competition. During the same period, LME tin prices also performed strongly, with overnight LME tin closing at $41,751/mt, soaring 4.37%, and maintained a pattern of fluctuating at highs during the morning session today. SHFE and LME tin prices strengthened in tandem, showing a typical pattern of synchronized gains.

From a macro perspective, the US Fed announced an interest rate cut of 25 basis points on December 11, lowering the target range for the federal funds rate to 3.50%-3.75%, marking the sixth interest rate cut since the start of the rate-cutting cycle in September 2024. The US dollar index fell in response, and the weaker US dollar provided significant macro tailwinds for tin prices to break through the key resistance level of 320,000 yuan. Looking ahead to the afternoon session, SHFE tin's short-term strength is expected to continue. Investors should monitor changes in trading volume after the afternoon opening and whether spot premiums widen further, while remaining vigilant about the risk of a technical pullback after the rapid price surge.