SHANGHAI, Feb 23 (SMM) - The SHFE 2303 tin contract fell last night and closed at 216,990 yuan/mt, down 1.58%. The open interest decreased 6,501 lots to 47,803 lots.
The domestic tin inventory under warrants increased slightly. The spot discounts decreased slightly while the imported goods were less cost-effective.
The SHFE 2303 tin contract rebounded after falling, and closed at 216,990 yuan/mt, down 1.58%. The open interest decreased 6,501 lots to 47,803 lots.
To sum up, the rebound in futures prices slowed down the increase in warrant inventory, reflecting that downstream enterprises were still sensitive about the prices amid the fragile demand support. The upstream smelters has fully recovered, and downstream enterprises restocked to a certain extent.
The overall demand in the spot market is still recovering, and it is still necessary to pay further attention to the recovery of the spot market.
