SMM

Last Friday night session, SHFE tin prices moved downwards after a higher opening. Amid price fluctuations, the overall trading atmosphere in the spot market appeared rather quiet, with trading volume continuing to shrink. Smelters still stand firm on quotes, providing some support to market prices. Although trading enterprises actively quoted prices, the range of quoted brands has narrowed compared to earlier periods, reflecting the tight supply in the market. Recently, the market performance of imported tin has been particularly impressive, with spot cargo almost sold out and pre-sold portions quickly absorbed. Despite this, downstream enterprises' enthusiasm for procurement has not been fully ignited. Most enterprises only show mild interest in prices, with a small amount of inquiries and just-in-time procurement, and some have adopted a pricing strategy. Due to the large inventory accumulated earlier, as prices gradually rise, downstream enterprises are more inclined to adopt a wait-and-see attitude, awaiting new market developments. Prudence has become the main theme in procurement strategies. Enterprises generally choose to remain cautious to cope with market uncertainties. From the overall trading situation, market activity remains sluggish, and the trading atmosphere is dull. Specifically, most trading enterprises' trading volume barely maintains around 10 mt, with a few enterprises achieving a trading volume of 1-2 truckloads, which is already considered outstanding in the market. Looking ahead, the spot market is expected to continue the current mediocre trading atmosphere. In the tug-of-war between sellers and buyers, the market may continue to seek a new balance point.