SHANGHAI, May 5 (SMM) - The most-traded SHFE 2306 tin contract fell rapidly after the opening and once hit the lowest point at 203,890 yuan/mt, and closed at 205,200 yuan/mt, down 2.16%.
In the spot market, the discounts of tin ingot quoted by small brands stood at 1,000-500 yuan/mt and that quoted by deliverable brands remained flat. Only few deliverable brands sold at premiums of 300-400 yuan/mt. However, according to traders’ feedback, the spot transactions only appeared amid the sharp decline in the prices and the downstream enterprises were unwilling to purchase after the prices rebounded.
