SHFE Tin Fluctuates at Low Levels in Night Session, Spot Market Expected to Continue Cooling Down [SMM Tin Morning Brief Nov 20]

SMM, 20, 2024: Yesterday, the spot tin market saw a cooling in trading activity, with quotes from trading companies remaining stable and showing no significant fluctuations. The price range of tin ingots from various domestic brands remained relatively fixed, with small-brand tin ingots and imported tin ingots showing a slight discount against the SMM 1# tin ingot price, while delivery brand prices and Yunnan Tin brand tin ingots showed a slight premium against the SMM 1# tin ingot price. In yesterday's market, tin prices fluctuated rangebound, running at low levels during the night session, and trading activity in the spot market slightly cooled down. Most downstream companies have completed their restocking plans and showed low purchasing enthusiasm. On the trading companies' side, most companies had trading volumes of 10-20 mt, with a few companies reaching trading volumes of around two truckloads. Overall, the market's trading atmosphere slightly cooled down. In summary, as tin prices rise in the future, the spot market trading is expected to continue cooling down in the short term, with most downstream companies' short-term demand being basically met.