SHFE 2403 tin contract inched lower and then moved rangebound before closing at 217,400 yuan/mt, down 0.25%.
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 300-500 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 500 yuan/mt for delivery brands, premiums of 500-800 yuan/mt for Yunxi brand, and discounts of 1000 yuan/mt for imported brand tin ingots. Tin prices went down after opening higher and drifted sideways in early trading yesterday. Most downstream companies resumed work yesterday and took a wait-and-see attitude towards tin prices.


