SHFE tin dropped over 1% in the night session; the spot market is expected to recover today [SMM Tin Morning Brief Nov 22]

Yesterday, the spot tin market saw mediocre trading activity, with trade companies' quotations remaining stable and showing no significant fluctuations. The price range of domestic tin ingots across various brands remained 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 fluctuated rangebound. During the night session, metals broadly declined, with SHFE tin dropping over 1%, leading to a cooling of trading activities in the spot market. Most downstream enterprises had completed their restocking plans and showed low purchasing enthusiasm. On the trade companies' side, most companies had a trading volume of around 10 mt, with a few achieving a trading volume of about one truckload. Overall, the market trading was mediocre. In summary, with the decline in SHFE tin during the night session, the spot market trading is expected to recover today.