Trump Sworn in as President, SHFE Tin Surges to Recent Highs [SMM Tin Morning News]

Published: Jan 21, 2025 09:00

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Trump Sworn in as President, SHFE Tin Surges to Recent Highs [SMM Tin Morning Brief] Trump was officially sworn in as the President of the US. The US President-elect Trump stated that tariffs and taxes will be imposed on foreign countries to benefit our citizens, rather than taxing our citizens to enrich other nations. To this end, we are establishing a foreign tax authority to collect all tariffs and taxes. During yesterday's night session, SHFE tin prices showed a strong upward trend. In the futures market, the price of the most-traded SHFE tin contract climbed to a recent high, with active market trading and an increase in trading volume. The collective gains in the overseas metal markets, especially the significant rise in LME tin, provided positive signals to the domestic market...

January 21, 2025 SMM Tin Morning Briefing: Donald Trump was officially sworn in as the President of the United States. The US President-elect Donald Trump stated, "We will impose tariffs and taxes on foreign countries to benefit our citizens, rather than taxing our citizens to enrich other nations. To this end, we are establishing a foreign tax bureau to collect all tariffs and taxes." During yesterday's night session, SHFE tin prices showed a strong upward trend. In the futures market, the most-traded SHFE tin contract prices climbed to recent highs, with active market trading and an increase in trading volume. Influenced by the collective gains in the overseas metal market, especially the significant rise in LME tin, positive signals were sent to the domestic market. Overnight,

LME tin surged, further boosting optimism in the domestic market for SHFE tin. Against this backdrop, the most-traded SHFE tin contract prices continued to rise, reaching new recent highs. In the spot market, due to the strong performance of the futures market, spot tin prices also increased. Suppliers and traders showed greater confidence in the market, but downstream enterprises remained cautious in their purchasing, waiting for better restocking opportunities. From a technical perspective, SHFE tin prices have broken through recent resistance levels, and the upward momentum remains strong. However, investors should remain cautious when chasing high prices, paying attention to market dynamics and policy risks.

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