SMM Tin Market Morning Comment (July 30)

Published: Jul 30, 2024 09:34

Source: SMM

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In the night session yesterday, the most-traded SHFE tin contract closed at 245,790 yuan/mt, down 1,860 yuan/mt, a decrease of 0.75%.

In the night session yesterday, the most-traded SHFE tin contract closed at 245,790 yuan/mt, down 1,860 yuan/mt, a decrease of 0.75%. The highest price was 246,800 yuan/mt, and the lowest was 244,000 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 premiums of 500-600 yuan/mt over SHFE 2408 tin contract, versus premiums of 800-1,400 yuan/mt for delivery brands, premiums of 1,200-1,600 yuan/mt for Yunxi brand. After a brief surge, SHFE tin prices fell back and remained in a low range during the morning session, with downstream purchasing enthusiasm somewhat diminished. Overall, the spot market transactions yesterday did not match the fervor of the previous week.

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