SHFE Tin Prices Continue to Decline, Spot Market Expected to Regain Momentum [SMM Tin Morning Brief]

January 3, 2025 SMM Tin Morning Brief: Yesterday, spot market prices fluctuated significantly. In the morning, SHFE tin prices opened low and moved higher, then fluctuated rangebound, while the spot market remained stable in the afternoon with a decline in transactions. Some downstream enterprises placed orders at low prices in the morning, but overall transactions were weak. Imported spot tin remained popular, considering the year-end closing of

2024 and shipping schedule issues in Indonesia. The inventory of imported spot tin in the spot market was relatively low, with some imported tin futures expected to arrive at the port around mid-January. During the night session, SHFE tin prices continued to pull back, with the closing price of the 2502 contract dropping to approximately 241,000 yuan/mt, which may stimulate today's spot market sentiment. Overall, SHFE tin prices have shown a weak trend recently, and downstream enterprises are expected to plan year-end restocking at low levels.