SMM

In last night's trading session, SHFE tin prices opened low and continued to decline, showing an overall weak trend. However, in the spot market, the daytime trading atmosphere remained subdued, with overall trading volume staying at a low level. Looking at the smelter quotations, most manufacturers' prices were stable around 252,000-255,000 yuan/mt, with actual shipments being few. Despite trading enterprises actively quoting downstream businesses to seek trading opportunities, the market response was lukewarm. Most downstream businesses still opted for a wait-and-see approach with no intention of restocking, with only a few making purchases due to rigid demand. Regarding the overall market trading situation, the level of transaction activity continues to be sluggish. Most trading enterprises' trading volumes remain at sporadic trading levels, with only a few able to achieve a truckload of goods in transactions. Currently, as tin prices have fallen below 250,000 yuan/mt, the upward momentum has not been sustained, and most market participants believe there is insufficient drive for price increases, waiting for further declines.