SHFE tin prices hit bottom and rebounded during the night session, with some downstream enterprises still adopting a wait-and-see attitude. [SMM Tin Morning Brief] Last night, SHFE tin prices surged rapidly after the opening, climbing from 244,500 yuan/mt to around 247,000 yuan/mt. However, prices subsequently fluctuated rangebound. Reviewing yesterday's spot market, although tin prices slightly pulled back in the afternoon, downstream enterprises' purchase willingness gradually increased. Nevertheless, the overall market response was not as strong as expected. Some downstream enterprises began small-scale purchases, while others continued to observe. Currently, downstream enterprises have only relatively small procurement needs. If tin prices remain strong in the future, some enterprises may adopt a delayed pricing model to complete pre-holiday inventory replenishment. Ahead of the holiday, most smelters are standing firm on quotes. Current prices are at recent lows, and ore traders have yet to finalize pricing, resulting in relatively low willingness to sell among smelters...
SMM Tin Morning Brief on January 16, 2025:
Last night, SHFE tin surged rapidly after opening, climbing from 244,500 yuan/mt to around 247,000 yuan/mt. However, the price subsequently fluctuated rangebound.
Looking back at yesterday's spot market, although tin prices slightly pulled back in the afternoon, downstream enterprises' purchase willingness gradually increased. However, the overall market response was not as strong as expected. Some downstream enterprises began small-scale purchases, while others remained on the sidelines.
Currently, downstream enterprises have only relatively small purchasing needs. If tin prices perform strongly in the future, some enterprises may adopt a delayed pricing model to complete pre-holiday inventory replenishment. Before the holiday, most smelters are still standing firm on quotes. The current price is at a recent low, and ore traders have not yet set prices, resulting in smelters having relatively low willingness to sell.
