SMM Tin Market Morning Comment (July 24)

In the night session yesterday, the SHFE tin most-traded contract closed at 247,820 yuan/mt, down 2,930 yuan/mt, a decrease of 1.17%. The highest price was 248,600 yuan/mt, and the lowest was 244,280 yuan/mt.

Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at premiums of 0-300 yuan/mt over SHFE 2408 tin contract, versus premiums of 500-1,000 yuan/mt for delivery brands and premiums of 1,000-1,200 yuan/mt for Yunxi brand. In the morning session yesterday, SHFE tin prices slightly increased before falling back, and the market's available supply continued to decline. The spot market's tin ingot premiums and discounts slightly increased. Overall, the spot market remained active yesterday, but downstream procurement enthusiasm declined.