SHFE tin prices opened lower and trended downwards in the night session; some downstream enterprises began to restock as needed [SMM Tin Morning News Oct 31]

SMM, October 31, 2024: Yesterday, the most-traded SHFE tin contract closed at 252,860 yuan/mt, down 2,570 yuan/mt, a decrease of 1.01%. The highest price was 254,920 yuan/mt, and the lowest was 252,130 yuan/mt. During the morning session yesterday, trading companies' quotations for various domestic tin ingot brands' premiums and discounts did not change much compared to recent days. Small brand tin ingots were quoted at premiums of +0~+200 yuan/mt against the SHFE 2411 contract, delivery brand prices were quoted at premiums of +200~+600 yuan/mt against the SHFE 2411 contract, Yunnan tin brand quotations against the SHFE 2411 contract were +600~+800 yuan/mt, and imported tin brand spot cargo was quoted at -700 yuan/mt against the SHFE 2411 contract. Yesterday, tin prices fluctuated rangebound, and night session tin prices opened lower and trended downwards, lacking upward momentum. Downstream enterprises restocked as prices fell, with some choosing to restock as needed. Some trading companies transacted 10-20 mt, while a few traded 1-2 trucks. Overall, the activity in the spot market increased yesterday.