SMM

【SMM Tin Midday Review: Myanmar Mining Area Resumption Issues Continue to Ferment, SHFE Tin Prices Fluctuate Rangebound】 This morning, the SHFE 2503 tin contract opened at 263,800 yuan/mt, quickly dropped to around 261,000 yuan/mt, and then fluctuated rangebound. By midday, the most-traded contract closed at 260,900 yuan/mt, down 90 yuan from the previous trading day. From the futures market, the balance of power between bulls and bears was even, and market sentiment was relatively cautious. With the uncertainty surrounding the resumption of production in Myanmar mining areas, investors adopted a conservative trading strategy, showing caution about the market's future direction. In terms of trading volume, it was basically flat compared to the previous trading day, indicating moderate market activity. Technically, the current price of the SHFE 2503 tin contract is located in a recent high-trading-volume area, facing resistance above while supported below. It is expected that from the afternoon to the night session, the contract will continue to maintain a sideways movement, with little chance of a significant unilateral trend. Investors should closely monitor market dynamics and changes in capital flows, managing position risks prudently. In summary, the SHFE 2503 tin contract showed stable performance by midday today, and it is expected to maintain a fluctuating trend in the near term. Investors are advised to remain cautious.