SHANGHAI, Aug 14 (SMM) –
On last Friday’s night session, SHFE 2309 tin contract price fell sharply at the opening. Then it recovered slightly and finally closed at 218,740 yuan/mt, down 1.98%.
Spot premiums and discounts changed little on August 11 morning. Small brand tin ingots were offered at discounts of 400-600 yuan/mt, versus discounts of 0-100 yuan/mt and premiums of 0-400 yuan/mt for delivery brand, premiums of 700-1,200 yuan/mt for Yunxi brand, and discounts of 600-1,000 yuan/mt for imported brand. Due to the sharp drop in SHFE tin prices last Friday, smelting companies were willing to support the price rather than accept shipment at a lower price. However, there was no obvious purchasing sentiment in the downstream market, and some traders said that the spot market faced no transactions or sporadic transactions on Friday.
