SHFE tin prices jumped initially and then pulled back in the night session, with downstream buyers mostly restocking as needed [SMM Tin Morning News Oct 30]

SMM, October 30, 2024: Yesterday, the most-traded SHFE tin contract closed at 254,460 yuan/mt, down 1,030 yuan/mt, a decrease of 0.40%. The highest price was 257,270 yuan/mt, and the lowest was 253,970 yuan/mt. During yesterday's morning session, trading companies' quotations for various domestic tin ingot brands showed little change compared to recent days. Small brand tin ingots were quoted at premiums of +0~+200 yuan/mt against the SHFE 2411 contract, delivery brands at +200~+600 yuan/mt, Yunnan tin brand at +600~+800 yuan/mt, and imported tin brands at -700 yuan/mt against the SHFE 2411 contract. Tin prices continued to decline yesterday, and in the night session, prices jumped initially and then pulled back, showing a lack of overall upward momentum. Downstream companies made small purchases as prices fell, with most opting to restock as needed. Most trading companies saw scattered transactions, with a few trading companies completing transactions of around one truckload. Overall, the spot market transactions were mediocre yesterday.