SHANGHAI, Aug 22 (SMM) –
Overnight, SHFE 2309 tin contract price rose gradually after the opening. After reaching a high of 217,470 yuan/mt, it fell slightly and finally closed at 217,300 yuan/mt, up 1.61%.
Spot disocunts in the domestic spot market narrowed to zero or even turned into premiums on August 21 morning. Small brand tin ingots were offered at premiums of 300 yuan/mt, delivery brands were offered at premiums of 300-600 yuan/mt, among which some enterprises with less inventory shipping at the premium of 700 yuan/mt. Yunxi brand was offered at premiums of 800-1,300 yuan/mt, and premiums of 500-700 yuan/mt for imported brands. Although tin prices rebounded on Monday, the trading sentiment was still depressed as many downstream buyers had stocked enough raw materials earlier. Most traders reported no transactions or few shipments.
