Alphamin Temporarily Halts Mining Operations; SHFE Tin Night Session Rises Over 9% [SMM Tin Morning News]

Alphamin Temporarily Halts Mining Operations; SHFE Tin Surges Over 9% in Night Session [SMM Tin Morning Brief] Alphamin Resources Corp announced yesterday that its board of directors has made the difficult decision to suspend mining operations at the Bisie tin mine in Walikale, North Kivu Province, eastern DRC. Bisie is the world's third-largest tin mine, with tin concentrates production reaching 17,300 mt in 2024, accounting for approximately 6% of global tin ore supply. Affected by the news of the suspension of mining operations at the Bisie tin mine, SHFE tin surged 9% in the night session, while LME tin rose 8%. Market concerns over supply intensified, with strong bullish momentum pushing SHFE tin prices to break above the 290,000 yuan/mt mark, eventually closing at 289,000 yuan/mt. In the spot market for tin ingots, spot transactions were relatively sluggish yesterday. Most traders reported scattered deals with overall poor sales. With the sharp rise in tin prices during the night session, spot market transactions are likely to stall, as downstream and end-user enterprises are expected to adopt a wait-and-see approach, awaiting clearer price trends.