Yesterday, SHFE Tin Prices Rebounded After Hitting Bottom; Spot Market Remained Sluggish [SMM Tin Morning Brief Dec 5]

Yesterday, the tin market exhibited a price dynamic of bottoming out and rebounding. During the price dip, the spot market saw a brief boost in trading, but the rapid rebound in prices did not lead to a significant increase in trading volume. On the smelter side, their stance on standing firm on quotes remained unwavering. Trading enterprises showed a relatively positive attitude in their quotations; however, downstream enterprises' purchase willingness was not high. Only when prices touched the intraday low did downstream enterprises show limited purchasing interest. As prices gradually climbed, the wait-and-see sentiment among downstream enterprises intensified, with most opting to maintain a cautious purchasing strategy. Intraday trading mainly focused on meeting rigid demand and replenishing low inventory, reflecting the conservative nature of market participants' trading activities. Overall, market activity remained sluggish. Specifically, most trading enterprises' trading volume was around 10 mt, with a few reaching about one truckload. Considering the night session's trend of opening low and closing high, it is expected that the spot market will continue to maintain a sluggish trading atmosphere.