SMM Tin Market Morning Comment (Jan 24)

Published: Jan 24, 2024 09:53

Source: SMM

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SHFE 2402 tin contract rose slightly to 219,600 yuan/mt before closing at 218,490 yuan/mt overnight, up 0.92%.

Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at discounts of 200-800 yuan/mt against SHFE 2402 tin contract, versus discounts of 200 yuan/mt to premiums of 700 yuan/mt for delivery brands, premiums of 500-1,000 yuan/mt for Yunxi brand, and discounts of 1000-1300 yuan/mt for imported brand tin ingots. Tin prices rose sharply yesterday. Traders reported that there were very few inquiries and purchasing in the morning amid strong wait-and-see sentiment.

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