SMM

[SMM Tin Futures Brief: SHFE Tin Climbs to 264,000 Yuan/mt Boosted by Macro Sentiment, Night Session Expected to Fluctuate Upward] On February 20, 2025, the most-traded SHFE tin SN2503 contract opened at 261,690 yuan/mt, hitting an intraday high of 264,120 yuan/mt and a low of 260,580 yuan/mt, before closing at 264,120 yuan/mt, up 2,520 yuan or 0.96% from the previous trading day. The trading volume reached 15.512 billion yuan, while open interest slightly decreased. Today, SHFE tin futures prices showed a fluctuating upward trend. In the morning session, prices opened higher and surged briefly, supported by macro sentiment. However, they pulled back to around 260,580 yuan/mt due to profit-taking by bulls and concerns over uncertainties in US Fed policies. In the afternoon, prices rebounded again, supported by strong demand from the new energy sector, ultimately closing at 264,120 yuan/mt. From a technical perspective, the most-traded SHFE tin contract hovered at highs within the range of 260,000 to 265,000 yuan/mt, lacking a clear short-term direction. Market sentiment was cautious today, with bulls opting to take profits after the price surge, leading to a slight decrease in open interest. Investors are closely watching the upcoming US inflation data and the progress of tin mine resumption in Myanmar, keeping market trading activity high. In the short term, SHFE tin futures prices are expected to hover at highs, with a reference range of 260,000 to 267,000 yuan/mt.