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SMM Tin Market Morning Comment (July 11)

iconJul 11, 2024 09:33
Source:SMM
In the night trading session yesterday, the most-traded SHFE tin contract closed at 282,580 yuan/mt, up 4,390 yuan/mt, an increase of 1.58%.

In the night trading session yesterday, the most-traded SHFE tin contract closed at 282,580 yuan/mt, up 4,390 yuan/mt, an increase of 1.58%. The highest price was 283,000 yuan/mt, and the lowest was 279,500 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, premiums of 200-400 yuan/mt for Yunxi brand, and discounts of 600 yuan/mt imported brand tin ingots. SHFE tin prices surged and then fell back during the morning session yesterday, and downstream producers' willingness to purchase remained sluggish. Overall, the spot market was relatively quiet yesterday. SHFE tin warrants decreased by 18 mt to 14,793 mt, while LME tin inventory decreased by 150 mt to 4,600 mt.

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