SHANGHAI, Feb 16 (SMM) - SHFE tin rebounded after opening at a low point last night. The most-traded SHFE 2303 tin contract closed at 212,180 yuan/mt, with open interest decreased 8,400 lots to 47,850 lots.
Amid falling futures prices, domestic spot market picked up, and warrants decreased. The spot premiums narrowed while the shipments improved. The import window remained open.
SHFE tin prices rebounded after opening at a low point last night and the most-traded SHFE 2303 tin contract closed at 212,180 yuan/mt, with open interest decreasing 8,400 lots. The open interest of SHFE 2304 and other forward-month contracts also decreased.
To sum up, SHFE tin prices remained volatile and the downstream raw material inventory was digested to a certain degree. Imported tin continued to arrive, but imported goods were less cost-effective than the early stage. The overall demand for spot goods was weak, and the discounts were relatively stable.
