SHANGHAI, Sep 21 (SMM) – SHFE tin fell to 220,170 yuan/mt overnight and closed down 0.29% at 221,230 yuan/mt.
Spot premiums and discounts barely changed yesterday. Small brand tin ingots were offered at discounts of 200 yuan/mt, premiums of 300-500 yuan/mt for delivery brands, and premiums of 1,000-1,200 yuan/mt for Yunxi brand, and discounts of 200-500 yuan/mt for imported tin brands. Trades in spot market were still muted. The minutes of the Federal Reserve meeting in the early morning showed that the probability of another interest rate hike in November is 29%, but the rate cut for the whole of next year is expected to be 40 basis points, down from 100 basis points. The Fed's attitude exceeded expectations and is still relatively hawkish.
