SHFE 2405 tin contract rebounded slightly after opening lower and traded around 252,000 yuan/mt, closing at 252,890 yuan/mt, down 4.71%.
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 600-1,200 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 declined sharply yesterday. The purchasing willingness of downstream enterprises increased, and they restocked aggressively.
SMM Tin Market Morning Comment (Apr 24)
SHFE 2405 tin contract rebounded slightly after opening lower and traded around 252,000 yuan/mt, closing at 252,890 yuan/mt, down 4.71%.
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