On Wednesday, the most-traded SHFE tin SN2504 contract initially declined during the day but later rebounded, while it opened lower and fluctuated at night. LME tin fluctuated downward. Spot market: It was heard that small brands were quoted at a discount of 600-200 yuan/mt to April, Yun-branded tin at a discount of 200 yuan/mt to a premium of 100 yuan/mt to April, and Yunnan Tin at a premium of 100-400 yuan/mt to April.
Overall, Qatar, the DRC, and Rwanda reiterated their support for resolving issues in the eastern DRC through dialogue, promoting regional peace and stability. Local tin ore supply remains highly uncertain, and market sentiment has turned cautious before relevant news becomes clear. Open interest and trading volume of the most-traded SHFE tin contract both pulled back. In the short term, prices are expected to consolidate at high levels, with continued attention to geopolitical developments.
