SHFE tin prices opened lower and continued to decline in the night session, downstream enterprises waited for opportunities to restock at lower prices [SMM Tin Morning Comment]

SMM, August 29: In the night session yesterday, the most traded SHFE tin futures contract closed at 263,790 yuan/mt, down 4,030 yuan/mt, a decrease of 1.50%. The highest price was 265,360 yuan/mt, and the lowest was 263,140 yuan/mt. During the morning session yesterday, the domestic tin ingot brands' premiums and discounts quoted by trading companies did not change much compared to recent days. Small brand tin ingots were quoted at par with the SHFE 2409 contract, delivery brand prices ranged from par to a premium of 700 yuan/mt over the SHFE 2409 contract, Yunnan Tin brand was quoted at a premium of 700-900 yuan/mt over the SHFE 2409 contract, and imported tin brands were quoted at par with the SHFE 2409 contract. Tin prices fluctuated downward yesterday, and most downstream enterprises chose to wait for better restocking opportunities. Some trading companies made sporadic transactions, with very few trading companies transacting around 40 mt. Overall, the spot market transactions were weak yesterday.