SHFE tin prices dropped back slightly during the night session, with downstream buyers mostly restocking as needed [SMM Tin Morning News Oct 29]

SMM, October 29: Yesterday, the most-traded SHFE tin contract closed at 256,210 yuan/mt, down 720 yuan/mt, a decrease of 0.28%. The highest price was 257,870 yuan/mt, and the lowest was 256,130 yuan/mt. During yesterday's morning session, the premiums and discounts quoted by trading companies for various domestic tin ingot brands did not change much compared to recent days. Small brand tin ingots were quoted at premiums of +0~+200 yuan/mt against the SHFE 2411 contract, delivery brand prices were quoted at +200~+600 yuan/mt against the SHFE 2411 contract, Yunnan tin brand quotations against the SHFE 2411 contract were +600~+800 yuan/mt, and imported tin brand spot cargo was quoted at -700 yuan/mt against the SHFE 2411 contract. Yesterday, tin prices hovered at high levels, and downstream buyers showed low enthusiasm for purchasing, with most choosing to observe or restock as needed in small quantities. Most trading companies saw scattered transactions, with a few trading companies completing transactions of around one truckload. Overall, the spot market remained sluggish yesterday.