SMM Morning Comment For Tin Market On August 15

SHANGHAI, Aug 15 (SMM) –

Overnight, SHFE 2309 tin contract price shook and fell sharply at the opening. After reaching a low price of around 211,170 yuan/mt, it recovered slightly but then maintain low volatility and finally closed at 211,660 yuan/mt, down 2.81%.

Spot discounts of small brands narrowed a little. Small brand tin ingots were offered at discounts of 300 yuan/mt, and premiums of 500 yuan/mt for delivery brand, premiums of 700-1,200 yuan/mt for Yunxi brand, and discounts of 600-900 yuan/mt for imported brand. Due to the sharp drop in SHFE tin prices yesterday, the purchase sentiment of downstream enterprises was high and the shipment was large. Some traders are now seeking opportunities to restock as their inventories have declined to almost zero, driven by dip buying last week.