SHANGHAI, Mar 13 (SMM) - The SHFE 2304 tin contract fell last Friday night and closed at 186,990 yuan/mt, down 1.46%.
In terms of fundamentals, the social inventory of refined tin increased sharply last week. The spot market picked up as tin prices fell. 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.
The SHFE 2304 tin contract declined last Friday night and closed at 186,990 yuan/mt, down 1.46%.
To sum up, the resumption of tin market needs to rely on the recovery of downstream consumption and inventory digestion. Downstream processing companies cannot actually digest inventory by stocking up at low prices, and they still need to pay close attention to the progress of consumer confidence restoration.