SHFE 2403 tin contract swung on a soft note last Friday night, closing at 214,280 yuan/mt, down 0.43%.
Last Friday, 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 0-500 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 600 yuan/mt for delivery brands, premiums of 300-800 yuan/mt for Yunxi brand, and discounts of 500-1,000 yuan/mt for imported brand tin ingots. Tin prices continued to fall last Friday. With the CNY drawing near, demands for tin ingots gradually decreased. Traders reported that inquiries and purchasing were poor. Tin prices fell back yesterday, improving downstream willingness to purchase. Generally speaking, the spot market transactions last Friday were relatively deserted.
