SHFE Tin Prices Show Initial Downward Trend, Spot Market Transactions Remain Mediocre [SMM Tin Morning Brief]
In the previous trading session, SHFE tin futures prices exhibited a clear pullback trend. SHFE tin prices began to fluctuate, but the overall trend was downward. During the trading process, SHFE tin futures prices once pulled back to 243,000 yuan/mt, indicating a retreat in bullish forces and a significant entry of bearish positions into the market. However, prices subsequently saw a slight rebound, possibly influenced by profit-taking from some bearish investors. By the close, the price of the most-traded SHFE tin contract settled at 245,000 yuan/mt. From a technical analysis perspective, various indicators for SHFE tin futures prices have weakened, suggesting insufficient upward momentum in the near term.
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