According to an SMM survey, as of August 2, the total social inventory of tin in the three regions surveyed by SMM was 12,954 mt, down 1,029 mt from a week ago.
Based on a comprehensive and detailed market survey by SMM, we observed that tin prices showed a trend of first declining and then rising last week. At the beginning of the week, SHFE tin prices started to decline continuously from the starting point of 247,000 yuan/mt, reaching a weekly low of 238,000 yuan/mt by Tuesday night. However, tin prices then stopped falling and began to rebound, once climbing to the level of 253,000 yuan/mt, and then fluctuated within a relatively stable range. In the spot market, the continuous decline in SHFE tin prices at the beginning of the week greatly stimulated the purchasing willingness of downstream producers. At the same time, end-users also chose to make corresponding purchases when tin prices were low. These positive factors collectively contributed to a significant increase in the trading heat of the spot market, with trading volume being exceptionally active. Additionally, as the available supply of tin ingots in the spot market gradually dwindled, the price spread among various brands of tin ingots remained at a high level. Based on the current market situation, we expect that the inventories of downstream producers have been relatively well replenished, so the inventory digestion speed last week slowed down.
![O impacto marginal dos atuais aumentos das taxas do dólar americano está enfraquecendo, e os preços do estanho se recuperaram ligeiramente em torno do centro nesta manhã [Análise do meio-dia do estanho da SMM]](https://imgqn.smm.cn/usercenter/iLVGs20251217171753.jpg)
