SHFE Tin Prices Fluctuate and Decline, JFX Intraday Trading Volume Exceeds 100 for the First Time After the New Year [SMM Tin Futures Brief Review]

SHFE tin showed a fluctuating downward trend today. The SHFE tin 2502 contract opened at 251,600 yuan/mt, with a daily decrease of 4,744 lots in open interest, bringing the total open interest to 9,192 lots. The daily trading volume was 40,400 lots.

In the spot market: Some smelters maintained a sentiment to stand firm on quotes, while most traders actively sold. During the morning session, traders' quotations for various domestic tin ingot brands showed little change compared to recent days. Quotations for small-brand tin ingots were on par with to premiums of 200 yuan/mt against the SHFE 2502 contract. Delivery brand prices were quoted at premiums of 300-800 yuan/mt against the SHFE 2502 contract. Yunnan tin brand quotations were at premiums of 1,000-1,100 yuan/mt against the SHFE 2502 contract. Imported tin brand spot quotations were at discounts of 800-1,000 yuan/mt against the SHFE 2502 contract. As the Chinese New Year holiday approaches, downstream enterprises mostly adopted a wait-and-see attitude, with only a few making just-in-time procurement. Most traders reported scattered transactions, while a few traders achieved transactions of 10-20 mt. Overall, the spot market was relatively quiet today.

In Indonesia: JFX reported a trading volume of 430 mt of TLEAD300 tin ingots yesterday, marking the first time post-holiday that daily shipments exceeded 100 mt. This may indicate an accelerated pace of Indonesian tin ingot exports in the future, potentially returning to pre-holiday export levels.