SMM Tin Market Morning Comment (Aug 1)

In the night session yesterday, the most-traded SHFE tin contract closed at 251,640 yuan/mt, up 7,670 yuan/mt, an increase of 3.14%. The highest price was 252,700 yuan/mt, and the lowest was 248,510 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 400-1,500 yuan/mt for delivery brands and premiums of 700-1,100 yuan/mt for Yunxi brand. Tin prices continued to rise yesterday, and most downstream producers remained on the sidelines. Overall, the spot market transactions were relatively poor yesterday.