SMM Comment: SHFE Tin Moved Rangebound, Spot Market Remaining Quiet

Published: Apr 20, 2022 13:39

Source: SMM

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The most-traded SHFE tin contract fluctuated sideways around 342,000 yuan/mt amid a small number of departures of funds.

SHANGHAI, Apr 20 (SMM) - Futures market: The most-traded SHFE tin contract fluctuated sideways around 342,000 yuan/mt amid a small number of departures of funds.

Spot market: Quotations of smelters were stable in the early trading with little changes from yesterday. Yunxi still held firm to the prices while quotations of the rest of the brands dropped slightly compared to yesterday. As of midday, market shipments were poor except for some low-priced products of non-delivery brand. Downstream demand was moderate, because some downstream enterprises have finished purchases when the prices fell yesterday. The overall premiums in the market increased slightly than yesterday, and the price of shipments in the market moved between 345,000-346,000 yuan/mt.

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