Last night, the most-traded SHFE tin contract closed at 275,800 yuan/mt, up 2,300 yuan/mt or 0.84%, with the highest at 277,780 yuan/mt and the lowest at 274,800 yuan/mt.
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 400-500 yuan/mt over SHFE 2408 tin contract, versus discounts of 0-500 yuan/mt for delivery brands, premiums of 200-400 yuan/mt for Yunxi brand. Tin prices moved rangebound yesterday, leaving downstream companies on the sidelines. Overall, the spot market was relatively quiet yesterday. SHFE tin warrants decreased by 115 mt to 14,800 mt, while LME tin inventory decreased by 150 mt to 4,575 mt.
