SHFE tin prices opened high and moved higher in the night session; spot market transactions remained sluggish [SMM Tin Morning Comment]

Yesterday, spot market transactions were sluggish, and trading companies' quotations changed little. The premiums and discounts of 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 premiums of 0-300 yuan/mt against the SHFE 2412 contract, Yunnan tin brand was quoted at premiums of 500-700 yuan/mt against 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 in a high-level sideways trend, with night session tin prices opening high and moving higher, while spot market transactions were sluggish. Downstream enterprises maintained a wait-and-see attitude, with a few downstream enterprises making small purchases yesterday morning. The majority of trading companies maintained scattered transactions, with a few trading companies transacting 20-30 mt. Overall, market sentiment was poor. In general, tin prices remained volatile at high levels, and the spot market response was relatively sluggish.