SHFE tin prices remained rangebound at high levels during the night session, and the spot market saw sluggish transactions [SMM Tin Morning Comment]

Yesterday, the spot market experienced sluggish transactions, with little change in quotations from trading companies. The premiums and discounts for various domestic tin ingot brands remained stable. Small brand tin ingot was quoted at a discount of 100-0 yuan/mt against the SHFE 2412 contract, delivery brand was quoted at a premium of 0-300 yuan/mt over the SHFE 2412 contract, Yunnan tin brand was quoted at a premium of 500-700 yuan/mt over the SHFE 2412 contract, and imported tin brand was quoted at a discount of 700 yuan/mt against the SHFE 2412 contract. Yesterday, tin prices remained rangebound at high levels, and the spot market saw sluggish transactions. Downstream companies, faced with high prices, opted to wait and see, with only a very few companies restocking as needed in small quantities. Most trading companies only maintained sporadic transactions. Overall, market sentiment was poor. In summary, tin prices showed a strong upward trend, which somewhat suppressed spot market transactions.