Social Inventory of Tin Ingots on November 8, 2024 (by Region) [SMM Data]

According to the SMM survey, as of Friday, the total social inventory of tin ingots in the three regions surveyed by SMM was 10,465 mt, an inventory buildup of 392 mt WoW.

At the beginning of the week, SHFE tin prices were influenced by the US election results, leading to a strong market sentiment of wait-and-see, causing slight price fluctuations. As the election results settled, market sentiment gradually stabilized. Mid-week, the overall non-ferrous metals market was boosted by the US Fed's interest rate cut and the anticipation of China's economic stimulus policy, leading to a rise in SHFE tin prices. However, due to the lack of a significant supply-demand mismatch and the cautious sentiment among some participants, the increase in SHFE tin prices was limited. In the spot market, transactions were somewhat mediocre last week. Due to the fluctuating trend of SHFE tin prices, both buyers and sellers in the spot market exhibited a cautious attitude. Most downstream enterprises adopted a wait-and-see approach, with only a few restocking as needed. Therefore, transactions in the tin spot market were relatively mediocre last week.