On Thursday, the most-traded SHFE tin SN2504 contract initially declined and then rebounded during the day, fluctuating rangebound at night, while LME tin fluctuated upward. Spot market: It was heard that small brands were at a discount of 500-200 yuan/mt for April, Yun-branded products were at a discount of 200 yuan/mt to a premium of 100 yuan/mt for April, and Yunxi was at a premium of 100-300 yuan/mt for April.
Overall, raw material supply disruptions persist, with processing fees in Yunnan and Jiangxi dropping to 12,000 yuan/mt (metal content) and 8,000 yuan/mt (metal content) respectively, and further declines are expected. Cost side, support remains strong, but downstream purchases are limited at high prices, with inventory digestion continuing, and weekly inventory is likely to accumulate further. Short-term industry news is scarce, with bullish and bearish factors in a stalemate, and tin prices are expected to remain high and consolidate.
(Source: Jinyuan Futures)
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