SMM Tin Market Morning Comment (Feb 21)

SHFE 2403 tin contract continued to rise to 219,000 yuan/mt before closing at 217,930 yuan/mt overnight, up 0.29%.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at discounts of 100-500 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 500 yuan/mt for delivery brands, premiums of 500-800 yuan/mt for Yunxi brand, and discounts of 600-1,000 yuan/mt for imported brand tin ingots. Tin prices fell slightly yesterday, and some downstream enterprises purchased at low prices.