SHFE 2406 tin contract rose sharply and stabilized, closing at 263,270 yuan/mt, up 0.02%.
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 300-1,000 yuan/mt for SHFE 2406 tin contract, versus discounts of 800 yuan/mt to premium of 300 yuan/mt for delivery brands and premiums of 0-300 yuan/mt for Yunxi brand. In yesterday's early trading, SHFE 2405 tin contract moved downwards after opening higher. The overall prices rebounded. Downstream companies buying sentiment declined. Transactions were poor yesterday.
SMM Tin Market Morning Comment (May 8)
SHFE 2406 tin contract rose sharply and stabilized, closing at 263,270 yuan/mt, up 0.02%.
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