SMM

Yesterday, the tin market experienced rangebound price fluctuations. During this period, the overall trading volume in the spot market was relatively low. On the smelter side, their stance to stand firm on quotes remained unwavering. Trading enterprises showed a relatively positive attitude in their quotations; however, the purchase willingness of downstream enterprises was not high. There were only a few inquiries and some just-in-time procurement. Most downstream and end-user enterprises had already stocked up significantly when prices were at a low level earlier. As prices gradually increased, most downstream enterprises chose to wait and see, anticipating new market trends and preferring to maintain a cautious procurement strategy. Overall, market activity remained sluggish. Specifically, most trading enterprises' trading volumes were only around 10 mt, with a few enterprises achieving a trading volume of about one truckload. Considering that prices continued to fluctuate rangebound during the night session, it is expected that the spot market will continue to maintain a sluggish trading atmosphere.