SMM Tin Market Morning Comment (Feb 28)

SHFE 2403 tin contract rose slightly to 216,600 yuan/mt before closing at 215,960 yuan/mt overnight, up 0.36%.
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 100-700 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 500 yuan/mt for delivery brands, premiums of 700-900 yuan/mt for Yunxi brand, and discounts of 600-1,000 yuan/mt for imported brand tin ingots. Tin prices continued to rise in early trading yesterday, with most downstream companies taking a wait-and-see attitude. Few deals were heard among traders.