SHFE Tin Prices Unlikely to Fall amid Bullish Market Sentiment

SHANGHAI, Mar 2 (SMM) - The SHFE 2304 tin contract fell and remained at 206,000 yuan/mt yesterday night, and closed at 206,030 yuan/mt, down 0.16%.

The domestic tin inventory under warrants increased further. The spot discounts of deliverable brands remained stable while that of small brands increased. The imported goods were still less cost-effective.

The SHFE 2304 tin contract fluctuated at 206,000 yuan/mt last night and closed at 206,030 yuan/mt, down 0.16%.

To sum up, tin prices fell yesterday, failing to stimulate downstream demand. And the spot market continued to slump. The spot market was sluggish yesterday, reflecting that the raw material inventory of downstream enterprises was still sufficient. The demand is unlikely to pick up in the short term. In the follow-up stage, the market needs to pay attention to the changes in social inventory and the introduction of relevant policies during the Two Sessions.