SMM Tin Market Morning Comment (July 15)

On last Friday night, the most-traded SHFE tin contract closed at 274,830 yuan/mt, down 3,420 yuan/mt, a decrease of 1.23%.

During last Friday's morning session, 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 400-500 yuan/mt over SHFE 2408 tin contract, versus discounts of 0-500 yuan/mt for delivery brands, premiums of 200-400 yuan/mt for Yunxi brand, and discounts of 600 yuan/mt for imported brand tin ingots. Tin prices continued to fall last Friday. Most downstream companies were restocking, and their willingness to purchase rebounded. Overall, the spot market was relatively active last Friday.