Social Inventory of Tin Ingots in the week ending June 21 (by Region) [SMM Data]

According to an SMM survey, as of June 21, the total social inventory of tin ingots in Shanghai, Jiangsu and Guangdong was 16,602 mt, down 1,018 mt WoW. Last week saw a clear upward trend in tin prices. On Monday, SHFE tin prices were stable at the benchmark level of 267,000 yuan/mt. However, the market trend shifted during the night session on Wednesday, with tin prices starting to show a significant upward momentum, which continued into the night session on Thursday. By Friday, although tin prices saw a moderate pullback, they remained at a relatively high level overall. At the beginning of the week, SHFE tin prices fluctuated at relatively low levels, attracting downstream producers to replenish some inventory and make rigid demand purchases. However, as tin prices continued to rise in subsequent trading days, downstream producers became more cautious in their purchasing decisions. Due to the price surge on Thursday and Friday, the overall market activity declined, with the trading atmosphere turning more subdued, in stark contrast to the enthusiastic transactions seen at the beginning of the week.