Social Inventory of Tin Ingots by Region on November 22, 2024 [SMM Data]

According to an SMM survey, as of last Friday, the total social inventory of tin ingots in the three regions surveyed by SMM was 9,278 mt, down 1,292 mt WoW.

At the beginning of the week, SHFE tin prices fluctuated downward due to hawkish comments from US Fed officials and a rebound in the US dollar index. Prices tested the support level multiple times but failed to break through effectively. Mid-week, SHFE tin prices first declined and then rose. During the opening phase, prices continued to fall under pressure but subsequently rebounded. It was evident that prices gradually recovered after hitting the intraday low, ultimately closing with a certain gain. In the latter part of the week, SHFE tin prices continued their rebound trend. Early in the week, the spot market maintained a relatively active trading atmosphere. Later, as most downstream enterprises completed restocking and SHFE tin prices showed no clear direction, downstream enterprises gradually adopted a wait-and-see approach, making only small spot purchases while waiting for a price turning point. Most trading companies maintained high shipment volumes last week, and inventory declined rapidly. The availability of spot cargo in the market significantly decreased, prompting many trading companies to slightly increase spot premiums/discounts.