The most-traded SHFE tin contract maintains a fluctuating rangebound trend, while downstream processing enterprises only make just-in-time procurement [SMM Tin Midday Review]
[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Maintains Fluctuating Rangebound Trend, Downstream Processing Enterprises Only Maintain Just-in-Time Procurement] This morning, the most-traded SHFE tin contract (SN2506) maintained a fluctuating rangebound trend, reaching a high of 267,600 yuan/mt and a low of 264,600 yuan/mt during the session. It closed at 265,310 yuan/mt at midday, dropping slightly by approximately 0.67% from yesterday's settlement price. Market trading was generally sluggish, with open interest decreasing to 24,300 lots from yesterday. Both long and short sides were contending near 265,000 yuan/mt.