SHFE 2403 tin contract swung on a soft note before closing at 215,290 yuan/mt, down 1.23%.
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 300-500 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 400 yuan/mt for delivery brands, premiums of 300-800 yuan/mt for Yunxi brand, and discounts of 700-1,100 yuan/mt for imported brand tin ingots. Yesterday, tin prices dropped sharply. With the Chinese New Year drawing near, downstream companies barely showed any purchasing interest. Traders reported that inquiries and purchasing were poor.


