SMM Tin Market Morning Comment (Aug 2)

In the night session yesterday, the most-traded SHFE tin contract closed at 248,150 yuan/mt, down 2,530 yuan/mt, a decrease of 1.01%. The highest price was 250,660 yuan/mt, and the lowest was 247,380 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 4,00-1,500 yuan/mt for delivery brands and premiums of 700-1,100 yuan/mt for Yunxi brand. Tin prices saw a slight decline yesterday, with most downstream producers still adopting a wait-and-see attitude, and few downstream producers restocked as needed. Overall, the spot market transactions were mediocre yesterday.