SHFE tin prices remained rangebound at high levels during the night session, the spot market saw sluggish transactions [SMM Tin Morning Comment]

In the night session yesterday, the most-traded SHFE tin contract closed at 259,080 yuan/mt, up 2,930 yuan/mt, an increase of 1.14%. The highest price was 260,280 yuan/mt, and the lowest was 257,900 yuan/mt.

During the morning session yesterday, trading companies' quotes for various domestic tin ingot brands showed little change compared to recent days. Small brand tin ingots were quoted at premiums of 0-500 yuan/mt against SHFE 2410 contract, delivery brand tin ingots were quoted at premiums of 200-700 yuan/mt against SHFE 2410 contract, and Yunnan Tin brand was quoted at premiums of 200-800 yuan/mt against SHFE 2410 contract. Imported tin brands were quoted at discounts of 700-200 yuan/mt against SHFE 2410 contract. The sharp rise in tin prices during the morning session yesterday dampened the purchasing enthusiasm of downstream and end-user companies, with only a few downstream companies restocking as needed. Most trading companies saw scattered transactions. Overall, the spot market transactions were relatively sluggish yesterday.