Social inventory of tin ingots by region on June 7 [SMM Data]

The SMM survey showed that as of June 7, the total social inventory of tin in Shanghai, Jiangsu and Guangdong stood at 17,303 mt, down 1,458 mt WoW. Last week, tin prices fluctuated at low levels. Specifically, at the beginning of the week, SHFE tin prices hovered sideways at 268,000 yuan/mt. Entering the night session on Tuesday, prices began to show a downward trend. By the night session on Wednesday, tin prices continued their downward trend and once touched a low point close to 257,000 yuan/mt. Mid-week, SHFE tin prices fluctuated between 257,000-271,000 yuan/mt. The price trend substantially stimulated downstream purchasing activities, not only promoting end-users to increase their orders but also significantly boosting tin ingot demand from downstream companies. In the face of the continuous decline in tin prices, most downstream companies actively replenished inventory. It is worth noting that the inventories of some traders were nearly emptied, further tightening the availability of circulating goods in the market.