SHFE tin continued to rise during the night session, and the spot market is expected to cool down [SMM Tin Morning News Nov 19]

Published: Nov 19, 2024 09:49 (GMT+8)

Source: SMM

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Yesterday, the spot tin market remained hot, with trading companies' quotations staying stable without significant fluctuations.

Yesterday, the spot tin market remained hot, with trading companies' quotations staying stable without significant fluctuations. The price range of tin ingots from various domestic brands was relatively fixed. Small brand tin ingots and imported tin ingots had a slight discount against the SMM 1# tin ingot price, while delivery brand prices and Yunnan Tin brand tin ingots had a slight premium against the SMM 1# tin ingot price. In yesterday's market, tin prices rebounded from the bottom and continued to rise during the night session, with trading activities in the spot market remaining hot. Downstream companies no longer held a wait-and-see attitude and planned to complete restocking before prices rose significantly. On the trading companies' side, most companies had a trading volume of around 20 mt, with a few companies reaching a trading volume of 2-3 truckloads. Overall, the market trading atmosphere was relatively strong. In summary, as tin prices rise, the spot market trading volume is expected to cool down in the short term, as most downstream companies' short-term demand has been basically met.

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