SHFE tin prices fluctuated rangebound as downstream companies completed stockpiling [SMM Tin Midday Review]

Futures Market: In the early trading session today, SHFE 2407 tin contract prices fluctuated rangebound. By midday, prices closed at 267,860 yuan/mt, down 1.36%.

Spot Market: During the early trading session today, traders’ quotations for various domestic tin brands showed little change in premiums and discounts compared to recent days. Small brand tin was quoted at a discount of 300-700 yuan/mt against the 2407 contract, delivery brand tin was quoted at a discount of 500 yuan/mt to a premium of 300 yuan/mt against the 2407 contract, and Yunxi brand was quoted at a premium of 0-500 yuan/mt over the 2407 contract. No quotations were available for imported tin brands. In the morning, SHFE tin prices fluctuated rangebound at recent low levels. However, as downstream companies have mostly completed stockpiling, their purchasing enthusiasm has waned compared to previous days. Most traders reported relatively flat transactions in the morning.