According to the SMM survey, as of last Friday, the total social inventory of tin ingots across three regions monitored by SMM stood at 7,805 mt, down 400 mt WoW.
Last week, SHFE tin prices experienced significant volatility. Specifically, at the beginning of the week, the most-traded SHFE tin contract closed at 248,900 yuan/mt, down 1.1% from the previous trading day. Influenced by the high-level fluctuations of the US dollar index, SHFE tin prices exhibited corresponding volatility. During mid-week, the price of the most-traded SHFE tin contract continued to decline, impacting market sentiment and showing a slightly weak overall trend. By Thursday, the price of the most-traded SHFE tin contract briefly rebounded but subsequently pulled back. During this period, market sentiment turned bullish, and traders actively entered the market. By the weekend, prices fluctuated while seeking a clear direction, with the market's primary focus remaining on supply and demand dynamics and changes in the macroeconomic environment. From a broader perspective, the price trend of the most-traded SHFE tin contract last week was predominantly downward fluctuations, mainly driven by increased supply, demand-side volatility, and macroeconomic factors. In the spot market, consumption activities last week were concentrated from Thursday to Friday, during which spot market trading was active, with daily trading volumes of some trading enterprises reaching 100-200 mt. In contrast, the spot market at the beginning of the week was relatively quiet, as traders adopted a more cautious attitude amid the complex and volatile market environment, with a dominant sentiment of observation. Looking ahead, the trend of SHFE tin prices is expected to continue being influenced by multiple key factors, including domestic and international economic conditions, policy adjustments, and the supply and demand dynamics of the tin industry. Therefore, continuous attention to market dynamics and in-depth analysis of industry trends will be crucial.
