SHFE Tin Prices Opened Lower in Night Session, Some Downstream Enterprises Chose to Wait and See [SMM Tin Morning News Nov 1]

SMM, November 1, 2024: Yesterday, the most-traded SHFE tin contract closed at 254,900 yuan/mt, up 620 yuan/mt, with an increase of 0.24%. The highest price was 255,250 yuan/mt, and the lowest was 253,530 yuan/mt. During yesterday's morning session, the quotations of various domestic tin ingot brands by trading companies 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 brand prices were quoted at premiums of +200~+600 yuan/mt against the SHFE 2411 contract, Yunnan tin brand quotations against the SHFE 2411 contract were +600~+800 yuan/mt, and imported tin brand spot cargo was quoted at -600 yuan/mt against the SHFE 2411 contract. Yesterday, tin prices fluctuated rangebound, and in the night session, tin prices opened lower and remained stable. Downstream enterprises had a strong wait-and-see sentiment, with some choosing to restock as needed. Some trading companies made scattered transactions, with a few trading companies transacting around one truckload. Overall, the spot market was relatively quiet yesterday.