SMM Tin Market Morning Comment (July 22)

Last Friday night, the most-traded SHFE tin contract closed at 260,500 yuan/mt, down 1,110 yuan/mt, a decrease of 0.42%. The highest price was 260,960 yuan/mt, and the lowest was 256,130 yuan/mt.

Last Friday, 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 2408 tin contract, versus discounts of 100 yuan/mt to premiums of 300 yuan/mt for delivery brands, and premiums of 400-600 yuan/mt for Yunxi brand. Last Friday morning, SHFE tin prices consolidated at low levels, and downstream procurement enthusiasm remained high, with some trader companies' inventories already cleared out. Overall, last Friday's spot market transactions remained active.