SMM Tin Market Morning Comment (May 22)
In the night session yesterday, the SHFE tin 2406 contract closed at 277,760 yuan/mt, up 20 yuan/mt or 0.01%, with a high of 283,590 yuan/mt and a low of 276,360 yuan/mt.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at discounts of 500-1,500 yuan/mt for SHFE 2406 tin contract, versus discounts of 300 yuan/mt to premium of 300 yuan/mt for delivery brands and premiums of 300-600 yuan/mt for Yunxi brand. Yesterday morning, after a significant surge in SHFE tin prices, they fell back. Downstream companies' willingness to inquire increased. Overall, the spot market was relatively active yesterday.


