SHFE Tin Priced Pull Back with Obvious Increase in Open Interest

Published: Feb 9, 2023 10:22

Source: SMM

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SHFE tin prices fell after opening last night and the most-traded SHFE 2303 tin contract closed at 217,220 yuan/mt.

SHANGHAI, Feb (SMM) - SHFE tin prices fell after opening last night and the most-traded SHFE 2303 tin contract closed at 217,220 yuan/mt.

Fundamentally, affected by the intensive delivery of smelters, the domestic warrant inventory increased obviously yesterday. The spot premiums were normal and the shipments were slightly lower than yesterday. The import window remained open as the imported tin prices were in obvious discounts.

SHFE tin prices fell after opening last night and the most-traded SHFE 2303 tin contract closed at 217,220 yuan/mt, with open interest increasing 1458 lots. The open interest of SHFE 2304 and other forward-month contracts increased slightly.

To sum up, SHFE tin prices fluctuated widely amid the long-short game. The spot market was stable amid the high downstream raw material inventory and the impact of imported tin.

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