SHFE Tin Fluctuated and Rebounded, Spot Premiums Rose Slightly

SHANGHAI, Dec 7 (SMM) - SHFE tin 2201 contract fluctuated and rebounded this morning, closing at 282,000 yuan/mt. The upstream smelters weakly held prices firm and quotations trended lower with the market situation.

According to traders, supply today is scarce amid more shipments yesterday afternoon and evening and sluggish selling sentiment by smelters on price correction. The shipments are modest today, but the transactions are affected by price rebound. Downstream producers mainly restocked on demand as prices retreated. Spot transaction price dropped slightly. The market mainly saw premiums and discounts quotations, with few quotations from low-premiums brands. Therefore, the price spread among brands was small. Premiums of Yunxi stood at 11,000-12,500 yuan/mt, Yunzi at 10,500-12,000 yuan/mt and other brands at 10,000 yuan/mt.