SMM Tin Market Morning Comment (July 31)

In the night session yesterday, the most-traded SHFE tin futures contract closed at 244,360 yuan/mt, down by 70 yuan/mt, a decrease of 0.03%, with a high of 244,980 yuan/mt and a low of 237,830 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 500-1,500 yuan/mt over SHFE 2409 tin contract, versus premiums of 500-1,500 yuan/mt for delivery brands, and premiums of 700-1,100 yuan/mt for Yunxi brand. Tin prices fluctuated downward yesterday, with a slight rebound in the night session. Most downstream producers made small restocking purchases. Overall, the spot market remained active yesterday.