SHANGHAI, Oct 17(SMM) – SHFE 2311 tin contract surged rapidly after the opening of yesterday night session. After reaching a relatively high of 218,500 yuan/mt, it maintained sideways and finally closed at 218,250 yuan/mt, up 0.56%.
Spot premiums and discounts were basically unchanged from yesterday. Small brand tin ingots were offered at premiums of 0-400 yuan/mt, premiums of 400-700 yuan/mt for delivery brands, premiums of 900-1,200 yuan/mt for Yunxi brands, and discounts of 300-400 yuan/mt for imported tin brands. Yesterday, tin price rose again, and there is almost no purchase willingness of downstream. Most trading companies reported that most of the shipments were zero or less. The transactions in spot market was sluggish.
