SMM

In yesterday's night session, SHFE tin prices opened high and continued to rise due to the boost from macro policies. However, during the daytime session, the overall trading atmosphere in the spot market was relatively quiet, with trading volume continuing to shrink. Smelters showed moderate willingness to sell, but overall shipments were relatively small. Trading enterprises actively quoted prices, but market transactions were limited. Downstream enterprises made a few inquiries and just-in-time procurements. Due to the previous accumulation of some inventory, downstream enterprises tended to adopt a wait-and-see attitude as prices gradually increased, awaiting new market developments. Overall, market activity remained sluggish, and the trading atmosphere was dull. Specifically, most trading enterprises' trading volumes barely maintained around 10 mt, with a few enterprises reaching a trading volume of one truckload. As prices rise, some downstream enterprises are expected to start making small purchases to guard against significant price increases.