SHANGHAI, Mar 6 (SMM) - The SHFE 2304 tin contract rebounded sharply above 200,000 yuan/mt last Friday night and close at 201,080 yuan/mt, up 0.55%.
The domestic tin inventory under warrants and social inventory increased further. The spot discounts of deliverable brands remained stable while that of small brands were still low. The market supply of imported goods were still insufficient.
The SHFE 2304 tin contract rebounded sharply above 200,000 yuan/mt last Friday night and close at 201,080 yuan/mt, up 0.55%. The open interest decreased significantly by 8,523 lots.
To sum up, demand stimulus policies are expected to be released intensively during the recent "two sessions", but it will take time for the downstream consumption of tin to improve. However, due to the impact of expectations, the market prices may fluctuate greatly.
