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.