SMM Tin Market Morning Comment (July 5)

Published: Jul 5, 2024 09:46

Source: SMM

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Last night, the most-traded SHFE tin futures contract closed at 275,790 yuan/mt, up 20 yuan/mt, with an increase of 0.01%.

Last night, the most-traded SHFE tin futures contract closed at 275,790 yuan/mt, up 20 yuan/mt, with an increase of 0.01%. The highest price was 277,540 yuan/mt, and the lowest was 274,440 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 400-500 yuan/mt over SHFE 2408 tin contract, versus discounts of 0-500 yuan/mt for delivery brands and premiums of 200-400 yuan/mt for Yunxi brand. Yesterday morning, SHFE tin prices dropped slightly, but downstream producer sentiment remained sluggish, with most adopting a wait-and-see approach. Overall, the spot market was relatively quiet yesterday.

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