Following the Spring Festival holiday, the domestic futures and spot commodity markets saw a strong start. According to data from SunSirs on February 27, 2026, the commodity market was dominated by price increases, with silver and tin leading the way with double-digit gains, driving up multiple sectors and resulting in a market pattern of "more gains than losses".

Market Overview: More stocks rose than fell, with the overall market trending positive

The commodity market saw increased activity in the week following the holiday, with a clear upward and downward trend. Data from SunSirs shows that among the 47 commodities monitored this week, 29 rose (61.70%), 15 fell (31.91%), and 3 remained unchanged (6.38%), with an average change of 0.6%. This highlights the accelerated resumption of work after the holiday, a recovery in demand, and signals of capital allocation, laying a positive foundation for the overall trend throughout the year.

Silver and tin futures performed exceptionally well, driven by multiple factors.

In the week following the holiday, precious metals and non-ferrous metals led the market rally, with silver and tin futures performing the best, leading the gains with double-digit increases and becoming the core highlights of the post-holiday market.

Silver rose 15.24% this week, from 19,954.33 RMB/kg to 22,994.67 RMB/kg, a year-on-year increase of 190.42%, reaching a new high for the period. This rise was attributed to multiple factors: the release of safe-haven funds after the holiday, global central bank gold purchases to support prices, a weaker dollar enhancing its value-preserving properties, and a surge in industrial demand from sectors such as photovoltaics and new energy vehicles.

Tin futures rose 13.85%, from 378,525.00 RMB/ton to 430,950.00 RMB/ton, a year-on-year increase of 69.16%. The core logic is the accelerated resumption of work in the electronics manufacturing industry after the holiday, the recovery in tin demand, coupled with low inventory levels and capital inflows. Data shows that trading volume in the Shanghai tin futures main contract increased this week, reflecting strong bullish market expectations.

Multiple sectors rose in tandem, while some individual stocks experienced slight pullbacks.

Except for the leading stocks, multiple sectors rose in tandem, while some individual stocks experienced slight pullbacks, showing a clear divergence.

The rising sectors covered multiple areas including non-ferrous metals and rubber and plastics: natural rubber rose 3.89%, cotton rose 3.80%, gold rose 3.38%, and thermal coal and urea also saw increases. Gold rose from 1107.47 RMB/gram to 1144.88 RMB/gram, benefiting from geopolitical risks and expectations of interest rate cuts; the non-ferrous metals sector performed best, with nickel (futures) and copper both rising, reflecting a favorable supply and demand dynamic.

The pullback was concentrated in the agricultural and sideline products and steel sectors: eggs fell 13.29%, live pigs fell 5.94%, and rapeseed meal fell 2.60%; wire rod and rebar also fell slightly, mainly due to differences in supply and demand recovery and inventory pressure. The decline was moderate and did not impact the overall upward trend.

Analysis and prediction

According to SunSirs, the core reason for the widespread rise in commodity prices after the holiday is the accelerated resumption of work and the release of demand, coupled with risk aversion and capital allocation. Silver and tin (futures) led the gains, driving the non-ferrous and precious metals sectors higher. Nickel and alumina in the non-ferrous metals sector are also expected to rise, with price fluctuations in line with expectations. Going forward, as work resumption progresses, the supply and demand dynamics will become clearer, and the market is expected to continue its structural upward trend. Attention should be paid to inventory pressure, policy risks, and macroeconomic volatility.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.