SHFE Tin Prices Bottom Out

Published: Mar 9, 2023 09:26

Source: SMM

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SHFE 2304 tin contract fell after opening but then bottomed out after hitting the lowest point at 191,800 yuan/mt yesterday night, and closed at 195,800 yuan/mt, down 1.20%.

SHANGHAI, Mar 8 (SMM) - SHFE 2304 tin contract fell after opening but then bottomed out after hitting the lowest point at 191,800 yuan/mt yesterday night, and closed at 195,800 yuan/mt, down 1.20%.

Fundamentally, the warrants of SHFE decreased slightly yesterday, but the spot market improved slightly. The spot discounts of deliverable brands remained stable while that of small brands were still high. The market supply of imported goods were still insufficient.

SHFE 2304 tin contract fell after opening but then bottomed out after hitting the lowest point at 191,800 yuan/mt yesterday night, and closed at 195,800 yuan/mt, down 1.20%.

To sum up, demand stimulus policies are expected to be released intensively during the recent "two sessions", but it will take time for the demand to improve. Tin prices may continue to fall.

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