Overnight, SHFE 2405 tin contract fell sharply, closing at 271,150 yuan/mt, down 2.52%.
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 600-3,000 yuan/mt for SHFE 2405 tin contract, versus discounts of 0-1,000 yuan/mt for delivery brands and premiums of 200-400 yuan/mt for Yunxi brand. Tin prices stayed at highs yesterday, and downstream companies mostly took a wait-and-see attitude. In the afternoon, tin price fell back, and companies restocked only as needed. Few deals were heard among traders.
SMM Tin Market Morning Comment (Apr 23)
Overnight, SHFE 2405 tin contract fell sharply, closing at 271,150 yuan/mt, down 2.52%.
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