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US Fed and Other Global Central Banks Intensively Announce Rate Decisions This Week; Risk-Averse Sentiment Intensifies Tin Price Volatility [SMM Tin Midday Review]
Mar 19, 2025, at 3:39 am
[SMM Tin Midday Review: US Fed and Other Global Central Banks Intensively Announce Rate Decisions This Week, Risk-Averse Sentiment Heightens Tin Price Volatility] As of today's midday close, the most-traded SHFE tin SN2504 contract settled at 279,780 yuan/mt, down 0.32% from the previous trading day's settlement price, with an intraday high of 283,900 yuan/mt and a low of 279,010 yuan/mt. Open interest decreased by 698 lots to 2.69 lots, and trading volume reached 122,500 lots.
In the spot market, tin prices fluctuated at highs, suppressing downstream purchase willingness. Spot market trading was sluggish, with some enterprises opting to wait for a price correction. Transactions were mainly driven by just-in-time procurement, and market sentiment remained cautious.
Midday Commentary on the Most-Traded SHFE Tin Contract (March 19, 2025)
As of today's midday close, the most-traded SHFE tin SN2504 contract settled at 279,780 yuan/mt, down 0.32% from the previous trading day's settlement price. During the session, it reached a high of 283,900 yuan/mt and a low of 279,010 yuan/mt. Open interest decreased by 698 lots to 2.69 lots, with a trading volume of 1.225 million lots.
In the spot market, tin prices fluctuating at highs suppressed downstream purchase willingness, leading to sluggish transactions. Some enterprises opted to wait for a price correction. Transactions were mainly driven by just-in-time procurement, with market sentiment remaining cautious.
It is worth noting that Indonesia's state-owned tin mining company plans to increase production to 21,500 mt in 2025, which may partially alleviate supply shortage expectations.
This week, the US Fed and other global central banks are intensively announcing interest rate decisions, heightening concerns over overseas economic uncertainties and driving risk-averse sentiment, which has generally pressured the non-ferrous metals sector. Additionally, the interplay between the risk of US tariff hikes on China and domestic policy support (such as financial measures to boost consumption) has intensified tin price volatility.
Capital flows: The continuous decline in open interest indicates that some bulls are taking profits and exiting, with market sentiment leaning towards caution. The SHFE/LME price ratio rebounded to 8.01, while LME tin retreated to around $35,000/mt, enhancing short-term intermarket linkage.
