SMM Tin Market Morning Comment (Mar 25)

SHFE 2404 tin contract saw limited fluctuations last Friday night, closing at 226,800 yuan/mt, down 0.24%.
Last Friday, 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 1,000-1,200 yuan/mt over SHFE 2404 tin contract, versus discounts of 700 yuan/mt to premiums of 400 yuan/mt for delivery brands, premiums of 200-500 yuan/mt for Yunxi brand, and discounts of 1,200-1,400 yuan/mt for imported brand tin ingots. Tin prices continued to decline last Friday, suppressing downstream and terminal companies from purchasing. Few deals were heard among traders.