SHFE Tin Futures Experienced a Sharp Correction, Expected to Continue the Adjustment Pattern [SMM Tin Futures Brief Review]

On December 30, 2025, SHFE tin futures experienced a significant correction. The most-traded SHFE tin 2602 contract closed at 326,330 yuan/mt in the afternoon session, falling 16,010 yuan for the day, a decline of 4.68%. During the session, it hit a low of 316,730 yuan, reflecting a clear weakening in market sentiment. Overseas, the three-month LME tin contract closed at $40,010 overnight, down 5.84%, indicating rising risk-off sentiment in the global market.

Visible inventories accumulated both domestically and overseas. SHFE tin inventory continued to increase recently, while LME tin inventory also rebounded, suggesting a looser spot supply-demand pattern compared to the previous period. Demand side, resistance to high prices became increasingly evident, with trading in the spot market being sluggish. Macro environment, the receding sentiment in the commodity market put pressure on tin prices. A sharp correction in the precious metals sector triggered a chain reaction, boosting risk-off sentiment among investors. The US dollar index fluctuated at low levels. Approaching the New Year holiday, profit-taking needs intensified selling pressure.

Technically, the most-traded SHFE tin contract formed a long negative candlestick on the daily chart, breaking below multiple moving average supports and showing a breakdown pattern. Trading volume expanded while open interest decreased, indicating strong willingness among bulls to close positions and exit. LME tin prices also showed a weaker technical structure, facing short-term adjustment pressure. Overall, tin prices are expected to continue their corrective pattern.