SMM Tin Market Morning Comment (June 27)

The closing price of the most-traded SHFE tin futures last night was 266,510 yuan/mt, down 70 yuan/mt, with a decline of 0.03%, the highest was 268,000 yuan/mt, and the lowest was 264,160 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 premiums of 0 yuan/mt over SHFE 2407 tin contract, versus premiums of 0-500 yuan/mt for delivery brands and premiums of 600-800 yuan/mt for Yunxi brand. The price of SHFE tin was weak in the morning session yesterday, and the purchasing intention of downstream companies increased, and the trading was quite active. The SHFE tin warrants decreased by 53 mt to 15,052 mt, while the LME tin inventory increased by 55 mt to 4,780 mt.