SMM

[SMM Tin Midday Review: SHFE Tin Prices Hover at Highs, Spot Market Transactions Stagnant] On the morning of February 21, 2025, the SHFE tin 2503 contract fluctuated rangebound. The opening price was 264,700 yuan/mt, with an intraday high of 263,800 yuan/mt, and finally closed at 264,030 yuan/mt, up 3,090 yuan or 1.18% from the previous trading day. Trading volume reached 46,600 lots, while open interest decreased by 1,950 lots to 23,700 lots. 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. The spot market remained sluggish this morning, with overall transaction volumes staying low. Downstream enterprises reported a decline in end-user orders, with many adopting a wait-and-see approach.