SMM Tin Market Morning Comment (July 12)

Published: Jul 12, 2024 09:44

Source: SMM

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In yesterday's night session, the most-traded SHFE tin contract closed at 278,230 yuan/mt, down 3,900 yuan/mt, a decrease of 1.38%.

In yesterday's night session, the most-traded SHFE tin contract closed at 278,230 yuan/mt, down 3,900 yuan/mt, a decrease of 1.38%. The highest price was 284,820 yuan/mt, and the lowest was 278,020 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 for imported brand tin ingots. Yesterday morning, SHFE tin prices consolidated at high levels. Downstream producers were reluctant to purchase at 282,000 yuan/mt, with transactions only as needed. Overall, the spot market transactions were relatively sluggish yesterday.

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