SMM Tin Market Morning Comment (Feb 7)

SHFE 2403 tin contract picked up slightly before closing at 209,510 yuan/mt, up 0.61%.
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 0-500 yuan/mt against SHFE 2403 tin contract, versus premiums of 0-1,000 yuan/mt for delivery brands, premiums of 300-800 yuan/mt for Yunxi brand, and discounts of 1,000 yuan/mt to premiums of 300 yuan/mt for imported brand tin ingots. Tin prices moved rangebound in early trading yesterday. The drop in tin prices triggered purchasing enthusiasm among downstream companies and they began to purchase tin ingots.