SMM

In yesterday's night session, SHFE tin prices opened lower, slightly rebounded, and then pulled back, showing an overall weak trend. Downstream enterprises' purchasing enthusiasm declined. As prices rose during the daytime session yesterday, downstream enterprises adopted a wait-and-see approach, waiting for better purchasing opportunities. A few downstream enterprises are expected to start restocking at the level of 245,000 yuan/mt, and if prices continue to fall, they may increase the restocking volume. Smelting enterprises maintained a sentiment to stand firm on quotes at current price levels, with daytime quotes remaining relatively high. The overall trading atmosphere in the spot market was lukewarm, with most trading enterprises recording daily trading volumes of 10-20 mt, while a few trading enterprises reported daily trading volumes of 1-2 truckloads. The US Fed's interest rate meeting is approaching, and the market is paying close attention to this meeting, awaiting its guidance on tin price trends.