Overnight, SHFE 2405 tin contract moved downwards after opening higher, closing at 260,350 yuan/mt, up 2.09%.
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 600-1,100 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 fluctuated downwards yesterday, and downstream companies restocked only as needed.