SMM Tin Market Morning Comment (Jan 19)

SHFE 2402 tin contract fell to 211,920 yuan/mt and then rebounded overnight, before closing at 213,250 yuan/mt overnight, up 0.12%.

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 500 and premiums of 100 yuan/mt over SHFE 2402 tin contract, versus discounts of 200 to premiums of 700 yuan/mt for delivery brands, premiums of 600-1000 yuan/mt for Yunxi brand, and discounts of 700-1200 yuan/mt for imported brand tin ingots. Tin prices fell slightly yesterday, but downstream companies continued to take a wait-and-see stance. Yesterday’s spot market transactions remained sluggish.