SHANGHAI, Sep 22 (SMM) – SHFE 2310 tin contract fell rapidly after opening on the Thursday night session, then rebounded to a low of 216,500 yuan/mt and maintained a sideways, finally closing at 217,450 yuan/mt, down 1.56%.
Spot premiums and discounts barely changed yesterday. Small brand tin ingots were offered at par with SHFE front-month tin contract, premiums of 300-600 yuan/mt for delivery brands, premiums of 1,000-1,200 yuan/mt for Yunxi brands, and discounts of 200-500 yuan/mt for imported tin brands. As the price of SHFE tin dropped sharply yesterday, some buyers entered the market. However, after the price rebounded, there was almost no buying interest from the downstream. Yesterday’s spot market transactions were still dull, with no significant change from the previous day’s transaction status.
