SMM

In the early stages, market concerns over supply intensified, and SHFE tin prices climbed upward from a low level [SMM Tin Morning Brief]. Last week, the SHFE tin futures market experienced a bottom-out rebound. Affected by news of supply disruptions in DRC tin ore, initial market concerns over supply intensified, causing SHFE tin prices to move downwards after a higher opening, plunging to a level of 260,000 yuan/mt. Midweek, as the US dollar weakened and the US Fed paused interest rate cuts, SHFE tin prices fluctuated and consolidated around 262,000 yuan/mt. Near the weekend, as the news of production resumption in Wa State, Myanmar, failed to materialize, market concerns over a supply deficit intensified. Coupled with a significant surge in the overseas market, SHFE tin prices rebounded to around 264,000 yuan/mt. However, trading in the spot market remained sluggish last week. Most downstream enterprises were reluctant to actively purchase and preferred to consume existing inventory. Due to the current high tin prices, inquiry enthusiasm weakened, and market sentiment was cautious. Even though some enterprises restocked during price corrections, overall trading volume remained limited. Most traders settled transactions using a post-pricing method.