SHFE Tin Prices Fluctuated at High Levels, Inhibiting Downstream Producers' Purchasing Enthusiasm [SMM Tin Midday Review]

Futures Market: This morning, the SHFE 2408 tin contract price fluctuated at high levels, closing at 276,070 yuan/mt at midday, up 0.94%.

Spot Market: During the morning session, traders' quotes for various domestic tin brands showed little change compared to recent days. Small brand tin was quoted at a discount of 400-500 yuan/mt against the 2408 contract, delivery brand was quoted at a discount of 0-500 yuan/mt against the 2408 contract, and Yunxi brand was quoted at a premium of 200-400 yuan/mt over the 2408 contract. There were no quotes for imported tin brands. This morning, as SHFE tin prices fluctuated at high levels, most downstream producers showed no willingness to purchase, and a few placed low-price orders. Most traders saw sporadic transactions in the morning. Overall, the spot market was relatively quiet today.