SHANGHAI, Feb 27 (SMM) - SHFE 2303 tin contract fell slightly last Friday night and closed at 210,460 yuan/mt, down 0.93%. Open interest fell 11,031 lots to 24,615 lots. The most-traded SHFE tin contract changed to SHFE 2204 contract with more trading volume.
Domestic warrants remained stable last Friday. The spot discounts remained stable while the imported goods were less cost-effective.
The SHFE 2303 tin contract declined slightly last Friday night and closed at 210,460 yuan/mt, down 0.93%.
To sum up, tin prices fluctuated widely in the past two days, and downstream enterprises were sensitive towards the price change, reflecting that downstream demand was still fragile. The upstream smelters has not yet fully recovered, and downstream enterprises restocked to a certain extent. The overall demand in the spot market is still recovering, especially the electronics sector. It is still necessary to pay further attention to the recovery of the spot market.
