SHFE tin prices fluctuated rangebound, downstream producers showed weak buying appetite[SMM Tin Midday Review]

Futures market: In the early trading session today, SHFE tin 2409 contract prices fluctuated rangebound, closing at 244,800 yuan/mt at midday, up 1.12%.

Spot market: During the early trading session today, trader quotes for various domestic tin brands showed little change compared to recent days. Small brand tin was quoted at a premium of 1,000-1,500 yuan/mt over the 2409 contract, deliverable brand was quoted at a premium of 800-1,500 yuan/mt over the 2409 contract, Yunxi brand was quoted at a premium of 1,000-1,700 yuan/mt over the 2409 contract, and there were no quotes for imported tin brands. Today, tin prices fluctuated rangebound, with downstream producers showing a strong wait-and-see sentiment and mostly using inventory for production. Most traders saw scattered transactions in the morning, with few inquiries in the market. Overall, the spot market transactions were relatively flat today.