SHANGHAI, Mar 22 (SMM) - SHFE 2304 tin contract rose last night and close at 187,470 yuan/mt, up 1.01%.
On the fundamentals, the warrants inventory fell slightly and the spot market turned cold amid rising tin prices. In the spot market, the discounts of small brands remained stable. The supply of imported tin was sufficient.
The SHFE 2304 tin contract rose yesterday night and close at 187,470 yuan/mt, up 1.01%. Open interest decreased by 5,914 lots to 44,382 lots.
To sum up, the current tin prices were still suppressed by the weak demand from downstream enterprises. Downstream processing companies cannot actually digest inventory by stocking up at low prices, and they still need to pay close attention to the progress of consumer confidence restoration.
