SMM Tin Market Morning Comment (Jun 18)

Published: Jun 18, 2024 09:32

Source: SMM

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The most-traded SHFE tin futures contract closed at 267,840 yuan/mt in the night session yesterday, up by 830 yuan/mt, with an increase of 0.31%.

The most-traded SHFE tin futures contract closed at 267,840 yuan/mt in the night session yesterday, up by 830 yuan/mt, with an increase of 0.31%. The highest price was 268,180 yuan/mt and the lowest was 263,350 yuan/mt.

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 500 yuan/mt to premiums of 300 yuan/mt over SHFE 2407 tin contract, versus premiums of 0-500 yuan/mt for delivery brands and premiums of 400-600 yuan/mt for Yunxi brand. Tin prices moved rangebound yesterday, and downstream companies restocked only as needed. Yesterday, SHFE tin warrants decreased by 7 mt to 15,549 mt, while LME tin stocks increased by 65 mt to 4,675 mt.

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