According to the SMM survey, as of October 18, the total social inventory of tin ingots in the three regions surveyed by SMM was 9,356 mt, with an inventory buildup of 45 mt WoW.
At the beginning of last week, SHFE tin futures prices opened with a noticeable decline compared to the previous day's closing price. After the initial drop, SHFE tin futures prices experienced a certain degree of rebound mid-week. However, this rebound was not sustained and was relatively small, failing to fully recover the previous losses. By the weekend, SHFE tin futures prices showed another significant decline, further lowering the overall price level for the week. In the spot market, following the end of the National Day holiday, many downstream and end-use enterprises had some purchasing demand. Some downstream enterprises made small purchases at the beginning of the week when tin prices were falling. However, as prices continued to decline, most downstream enterprises adopted a wait-and-see attitude, waiting for tin prices to reach the bottom before making purchases. Overall, the spot market transactions were mediocre last week. Despite the purchasing demand from downstream enterprises, the continuous decline in tin prices led most downstream enterprises to wait for a better buying opportunity.
