SMM

Yesterday, spot market transactions were sluggish, and trading companies' quotations changed little. 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 against the SHFE 2412 contract, Yunnan tin brand was quoted at premiums of 500-700 yuan/mt against the SHFE 2412 contract, and imported tin brand was quoted at a discount of 700 yuan/mt against the SHFE 2412 contract. Yesterday, tin prices remained in a high-level sideways trend, with night session tin prices opening high and moving higher, while spot market transactions were sluggish. Downstream enterprises maintained a wait-and-see attitude, with a few downstream enterprises making small purchases yesterday morning. The majority of trading companies maintained scattered transactions, with a few trading companies transacting 20-30 mt. Overall, market sentiment was poor. In general, tin prices remained volatile at high levels, and the spot market response was relatively sluggish.