Slight Inventory Buildup of Tin Ingot, Strong Wait-and-See Sentiment Among Downstream Enterprises [SMM Analysis]

According to an SMM survey, as of last Friday, the total social inventory of tin ingot in the three regions surveyed by SMM was 10,073 mt, down 121 mt WoW.

Last week, SHFE tin prices exhibited a fluctuating trend. At the beginning of the week, influenced by various market news and macroeconomic data, contract prices experienced subtle fluctuations. The forces of bulls and bears frequently clashed in trading, and as trading progressed, prices alternated between rises and falls. However, each price change was relatively limited, failing to form a clear unilateral trend. Overall, SHFE tin prices fluctuated within a relatively narrow range last week, lacking significant rallies or declines. In the spot market, trading was steady but somewhat mediocre last week. Due to the fluctuating trend of SHFE tin prices, both buyers and sellers in the spot market exhibited a cautious attitude. Downstream enterprises, concerned about the supply situation in Wa State, Myanmar, mostly adopted a wait-and-see approach. As a result, transactions in the tin spot market were relatively mediocre last week.