Overnight, the most-traded SHFE tin contract closed at 275,240 yuan/mt, down 2,490 yuan/mt, a decrease of 0.90%, with the highest at 278,160 yuan/mt and the lowest at 274,750 yuan/mt.
Spot market transaction: During the morning session, traders' quotations for premiums and discounts of various domestic tin ingot brands did not change much compared to recent days. Small brand tin ingots were at a discount of around 400-500 yuan/mt against the 2408 contract, delivery brand was at a discount of 0-500 yuan/mt against the 2408 contract, and Yunxi brand was at a premium of 200-400 yuan/mt over the 2408 contract. There were no quotations for imported tin brands. Yesterday morning, SHFE tin prices surged and then fell back. Downstream producers maintained a cautious sentiment, sticking to a strategy of restocking as needed. Most traders had scattered transactions. Overall, the spot market transactions were relatively sluggish yesterday.
