SHFE tin prices moved downwards after a higher opening in the night session. SHFE tin warrants decreased by 324 mt yesterday [SMM Tin Morning News].

Published: Aug 21, 2024 09:40
Source: SMM
SMM, August 21: In the night session yesterday, the most-traded SHFE tin futures contract closed at 263,100 yuan/mt, down by 1,300 yuan/mt, a decrease of 0.49%.

SMM, August 21: In the night session yesterday, the most-traded SHFE tin futures contract closed at 263,100 yuan/mt, down by 1,300 yuan/mt, a decrease of 0.49%. The highest price was 266,650 yuan/mt, and the lowest was 261,330 yuan/mt. During the morning session yesterday, trading companies' quotes for various domestic tin ingot brands showed little change compared to recent days. Small brand tin ingots were quoted at a premium of 0 to 500 yuan/mt over the SHFE 2409 contract. Delivery brands were quoted at a premium of 500 to 1,000 yuan/mt over the SHFE 2409 contract, Yunnan Tin brand was quoted at a premium of 1,000 to 1,200 yuan/mt over the SHFE 2409 contract, and imported tin brands were quoted at par with the SHFE 2409 contract. Yesterday, tin prices rebounded after hitting a low, but downstream companies' purchasing enthusiasm remained low. A few companies restocked as needed, and some downstream companies aimed to restock at lower prices. Most trading companies had scattered transactions, with a few trading companies transacting 20 to 30 mt. Overall, the spot market transactions were mediocre yesterday.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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SHFE tin prices moved downwards after a higher opening in the night session. SHFE tin warrants decreased by 324 mt yesterday [SMM Tin Morning News]. - Shanghai Metals Market (SMM)