SHFE Tin Prices Opened Low and Fell in the Night Session, Spot Market Trading Remained Tepid [SMM Tin Morning Comment]

Yesterday, the spot tin market saw relatively quiet trading, with trade companies' quotations remaining stable and showing no significant fluctuations. The price range for tin ingots of various domestic brands was relatively fixed. Small brand tin ingots and imported tin ingots had a slight discount to the SMM 1# tin ingot price, while delivery brand and Yunnan Tin brand tin ingots had a slight premium to the SMM 1# tin ingot price. Overall, tin prices remained at a relatively high level in yesterday's market. During the night session, SHFE tin prices opened low and continued to fall, but this did not stimulate trading activity in the spot market. Most downstream companies adopted a wait-and-see attitude, with only a few companies making small purchases yesterday. Most companies had scattered trading volumes, with only a few reaching volumes of 20-30 mt. Overall, the market trading atmosphere was not strong. In summary, although tin prices dropped back slightly from their high levels, the spot market's response was relatively indifferent, and trading activity did not effectively pick up.