SMM Morning Comment For Tin Market On August 30

SHANGHAI, Aug 30 (SMM) –

Overnight, SHFE 2309 tin contract price quickly pulled up after the low opening. Then it rebounded and maintained a sideways trend, and finally closed at 213,730 yuan/mt, up 0.91%.

Spot premiums and discounts changed little on August 28 morning. Small brand tin ingots were offered at discounts of 200 yuan/mt, and premiums of 100-600 yuan/mt for delivery brands, among which some enterprises with less inventory shipping at the premium of 700 yuan/mt, premiums of 800-1,300 yuan/mt for Yunxi brand, and discounts of 300 yuan/mt for imported brands. Even as tin prices fell back yesterday, transactions barely increased as downstream enterprises have restocked earlier.