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Spot Prices did not Follow the SHFE Tin Prices to Rebound

iconMay 20, 2022 13:41
Source:SMM
Today, the most-traded SHFE tin contract surged before dropping and closed at around 284,500 yuan/mt in midday.

SHANGHAI, May 20 (SMM) - Today, the most-traded SHFE tin contract surged before dropping and closed at around 284,500 yuan/mt in midday.
In the spot market, the overall quotation of smelters remained almost unchanged compared with that of yesterday in the early trading today, and only a few manufacturers held firm to the prices due to the higher futures prices. According to some traders, the quotation quantity of domestic delivery brands increased today, and the spread between domestic non-delivery brands and imported products narrowed sharply. The prices of Yunxi still maintained high. Spot prices did not follow the futures prices, and the shipment in the market was slack. Downstream enterprises purchased on rigid demand, and the overall market demand was weak.

Today, the quotations of domestic brands in the market declined due to the rebound of futures prices, and some low-priced brands were even quoted at discounts. The price spread between imported products and domestic brands narrowed, and imported products lost their price advantage. Domestic mainstream brands’ shipping prices remained stable, while non-delivery brands lowered their quotations with the futures market. The mainstream shipping prices were around 283,000 yuan/mt, and some manufacturers lowered the prices to 281,000 yuan/mt. The prices of delivery brands in the market were slightly higher, and most of the mainstream transaction prices moved between 288,000-293,000 yuan/mt among different brands.



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The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.

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