SMM Morning Comment For Tin Market On November 2

SHANGHAI, November 2(SMM) –

SHFE 2312 tin contract fell to 203900 yuan/mt overnight and then rebounded to 206860 yuan/mt, closing at 205830 yuan/mt, down 0.16%.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands did not change much. Small brand tin ingots were offered at premiums of 200-600 yuan/mt, versus premiums of 400-700 yuan/mt for delivery brands, premiums of 1,000-1,200 yuan/mt for Yunxi brand, and discounts of 500 yuan/mt for imported brand tin ingots. Tin prices fell deeply yesterday, driving the purchasing sentiment of downstream companies to pick up. Smelters held offers firm. Spot supply looks likely to tighten.