US Dollar Index Volatility Pressures SHFE Tin Prices; Market Outlook Cautious Ahead of Chinese New Year

Publicado: Jan 22, 2025 09:09

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The US dollar index initially fell and then rose, putting pressure on SHFE tin prices [SMM Tin Morning Brief]. Trump stated that an investigation into China's trade practices would be conducted but did not announce new tariff measures. The US dollar index first declined and then rebounded, gradually pressuring base metals. During yesterday's night session, SHFE tin prices showed a pullback trend. In the futures market, the price of the most-traded SHFE tin contract gradually declined from its recent high to 249,000 yuan/mt, entering a fluctuate rangebound phase. In the spot market, due to the strong performance of the futures market, spot tin prices did not experience a significant drop. Meanwhile, considering that most downstream and end-user enterprises are preparing for the Chinese New Year holiday, coupled with the fact that logistics have largely ceased operations before the holiday, spot market transactions remained weak and are expected to stay subdued in the near term. However, market participants should remain cautious and pay attention to market dynamics and policy risks.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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Dados: Movimento do mercado SHFE, DCE (03 de setembro)