Last night, SHFE tin prices fluctuated rangebound; the spot market saw sluggish transactions [SMM Tin Morning Comment]

Published: Oct 9, 2024 09:25

Source: SMM

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Yesterday, the most-traded SHFE tin contract closed at 265,040 yuan/mt, down 3,250 yuan/mt, a decrease of 1.21%, with a high of 267,260 yuan/mt and a low of 264,170 yuan/mt.

During yesterday's morning session, trading companies' quotes for 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 the SHFE 2411 contract, delivery brand at premiums of 200-700 yuan/mt, Yunnan Tin brand at premiums of 600-900 yuan/mt, and imported tin brands at discounts of 400-200 yuan/mt against the SHFE 2411 contract. In the morning session, tin prices fluctuated at high levels, and with previous restocking being sufficient, buying interest was low. Many trading companies transacted less than ten mt, with a few trading companies transacting 1-2 truckloads. Overall, the spot market transactions were relatively sluggish yesterday.

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