SMM

Last Friday, the spot market showed mediocre performance, with little change in quotations from trading companies. The premiums and discounts of various domestic tin ingot brands remained stable. Small brand tin ingot was quoted at a discount of 100-0 yuan/mt against the SHFE 2412 contract, delivery brand was quoted at premiums of 0-300 yuan/mt over the SHFE 2412 contract, Yunnan tin brand was quoted at premiums of 500-700 yuan/mt over the SHFE 2412 contract, and imported tin brand was quoted at a discount of 700 yuan/mt against the SHFE 2412 contract. Tin prices opened high and moved higher in the night session last Friday, with spot market trading remaining sluggish. Downstream companies made small purchases mainly based on immediate needs as prices rose. Most trading companies only maintained scattered transactions, with a few companies having a trading volume of around one truckload. Overall, market trading sentiment was cautious. In general, tin prices showed a strong upward trend, which somewhat suppressed spot market trading.