SMM

[SMM Tin Futures Brief Review: Concerns Over "High Tin Prices Suppressing Demand" Intensify, SHFE Tin Prices Pull Back at Midday] The most-traded SHFE tin 2503 contract opened at 263,800 yuan/mt, hitting an intraday high of 267,800 yuan/mt and a low of 263,500 yuan/mt, before closing at 263,730 yuan/mt, down approximately 0.41% from the previous trading day. Trading volume and open interest fluctuated slightly compared to the previous day, with market trading activity remaining robust. Today, SHFE tin futures fluctuated upward. In the morning session, prices opened higher and briefly surged to 266,800 yuan/mt, supported by expectations of tight supply. Subsequently, prices rebounded and closed within the intraday high range due to partial profit-taking by bulls and resistance from the US dollar rebound. Technically, the most-traded SHFE tin contract found short-term support in the 262,000-265,000 yuan/mt range, with the MACD indicator showing a slight expansion of red bars. However, trading volume did not significantly increase, indicating persistent market divergence. The US Fed is expected to keep rates unchanged in March with a probability as high as 94%, but market bets on a rate cut in May remain divided. The US dollar index rebounded slightly, exerting pressure on risk assets. Meanwhile, expectations of easing policies by the domestic central bank have strengthened recently, with the liquidity environment providing support for non-ferrous metal prices...