SMM Tin Market Morning Comment (Feb 8)

SHFE 2403 tin contract inched higher and remained at highs before closing at 212,430 yuan/mt overnight, up 1.31%.
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 300 yuan/mt against SHFE 2403 tin contract, versus premiums of 0-500 yuan/mt for delivery brands, premiums of 700-800 yuan/mt for Yunxi brand, and discounts of 600 yuan/mt for imported brand tin ingots. Tin prices moved rangebound in early trading yesterday and rebounded in night session. Downstream companies barely showed any purchasing interest before CNY holidays.