SMM

During last Friday's night session, SHFE tin prices opened low and moved lower, showing overall weakness. Nevertheless, downstream enterprises' procurement enthusiasm was not fully ignited. Most enterprises only showed mild interest in prices, with limited inquiries and just-in-time procurement activities, while some adopted a pricing strategy afterward. Last week, most downstream enterprises maintained a cautious procurement attitude, with low purchase volumes. Actual demand exceeded the weekly procurement volume, leading to a decline in inventory. If SHFE tin prices continue to decline or remain at current levels, downstream enterprises are expected to start purchasing and restocking. From the overall trading situation, market activity was sluggish last week, with a subdued trading atmosphere, and most trading enterprises recorded daily trading volumes of less than one truckload. Looking ahead, if SHFE tin prices remain weak and range-bound, the spot market is expected to improve the current mediocre trading atmosphere.