SHFE Tin Price Centre Increased

SHANGHAI Aug 24 (SMM) - The most-traded SHFE 2109 tin contract rose 1.87% to end at 236,800 yuan/mt today, with open interest down 820 lots.

Price centre slowly increased. Combined with the analysis of the capital changes, long-positions are more active in the price trend, which have not shown the willingness of long-term layout.

Quotations at smelters were at a high level due to low inventories. Spot cargoes in the market tightened, with individual brands being out of stock. SHFE and LME inventories remained low. The recent export window has passed and smelters are expected to resume production. Supply increase expectations remain as the market focus.