Yesterday, SHFE tin prices surged strongly, while transactions in the spot market were relatively weak. [SMM Tin Morning News]

SMM Tin Morning Brief on December 31, 2024: Yesterday, SHFE tin futures prices exhibited a steady performance. After the opening, as the market gradually became active, prices began to fluctuate but maintained an overall stable trend. During trading, SHFE tin futures prices once touched the intraday high, indicating that the bullish momentum in the market remained strong. However, prices dropped back slightly afterward, possibly due to some investors taking profits. Despite this, SHFE tin futures prices remained at relatively high levels, reflecting the market's optimistic outlook on tin resources. By the close, the price of the most-traded SHFE tin futures contract settled at 246,850 yuan/mt, up 2,080 yuan/mt from the previous day's settlement price, marking a 0.85% increase. Although this gain was not significant, it was notable in the recent market environment, showcasing the stability and vitality of the tin market. From a technical analysis perspective, SHFE tin futures prices successfully broke through recent resistance levels yesterday, which could pave the way for further increases. However, investors should closely monitor market dynamics to guard against potential risks. Overall, the SHFE tin futures market performed impressively yesterday, with prices steadily rising. Supported by both fundamentals and technical factors, the market remains optimistic about the future trend of SHFE tin. Nevertheless, investors should remain cautious and adjust strategies flexibly based on actual conditions.