SHFE tin fluctuated rangebound today. The SHFE tin 2502 contract opened at 251,350 yuan/mt, with a daily decrease of 2,021 lots in open interest, bringing the total open interest to 23,300 lots. The daily trading volume was 66,300 lots.
In the spot market: Some smelters maintained a sentiment to stand firm on quotes, while most traders actively sold. Premiums and discounts for tin ingots of various brands remained stable. Coupled with today's price being at a two-week low, this stimulated inquiries and purchases from most downstream enterprises.
Most downstream enterprises had minor inventory gaps and were waiting for suitable price levels to restock. Some downstream enterprises considered the current price to be high and opted for a later pricing model for procurement. Overall, some traders sold 1-2 truckloads, while others sold around 20 mt. The spot market trading was relatively active.
In Indonesia: JFX reported a trading volume of 100 mt of TLEAD300 tin ingots yesterday. Following the resumption of Indonesian exports yesterday, today's shipments maintained a good pace, with expectations of returning to the regular shipment rhythm in the future.
