SHFE tin prices opened high and rose overnight, dampening downstream purchasing enthusiasm [SMM Tin Morning Comment]

In the night session yesterday, the most-traded SHFE tin contract closed at 259,770 yuan/mt, up 660 yuan/mt, an increase of 0.25%, with a high of 261,000 yuan/mt and a low of 258,350 yuan/mt.

During the morning session yesterday, trading companies' quotes for domestic tin ingot brands showed little change compared to recent days. Small brand tin ingots were quoted at premiums of 0-500 yuan/mt against the SHFE 2410 contract, delivery brand at premiums of 200-700 yuan/mt, Yunnan Tin brand at premiums of 200-800 yuan/mt, and imported tin brands at discounts of 700-200 yuan/mt against the SHFE 2410 contract. In the morning session, tin prices jumped initially and then pulled back slightly, prompting some downstream and end-user companies to make small purchases after the price drop. Most trading companies had scattered transactions, with a few trading companies completing transactions of about one truckload. Overall, the spot market transactions were mediocre yesterday.