Night session SHFE tin prices opened high and moved higher, potentially further suppressing downstream purchasing willingness [SMM Tin Morning Comment]

SMM, August 28: In the night session yesterday, the most-traded SHFE tin futures contract closed at 269,390 yuan/mt, up 3,930 yuan/mt, an increase of 1.48%, with a high of 269,430 yuan/mt and a low of 267,220 yuan/mt. During the morning session yesterday, trading companies' quotes for various domestic tin ingot brands showed little change compared to recent days. Small brand tin ingots were quoted at par with the SHFE 2409 contract, delivery brand prices ranged from par to a premium of 700 yuan/mt over the SHFE 2409 contract, Yunnan Tin brand was quoted at a premium of 700-900 yuan/mt over the SHFE 2409 contract, and imported tin brands were quoted at par with the SHFE 2409 contract. Yesterday, tin prices fluctuated upwards, with some downstream companies making small purchases while others chose to continue observing. Some trading companies made scattered transactions, with a very few trading companies transacting around two truckloads. Overall, the spot market transactions were relatively weak yesterday.