Overnight, SHFE 2406 tin contract moved up after opening higher, closing at 270,780 yuan/mt, up 3.41%.
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 500-700 yuan/mt for SHFE 2406 tin contract, versus discounts of 500 yuan/mt to premium of 300 yuan/mt for delivery brands and premiums of 200-500 yuan/mt for Yunxi brand. In yesterday's early trading, SHFE 2405 tin contract bottomed out due to sharp decline. Downstream companies buying sentiment was sluggish. Few deals were heard among traders. Transactions were poor yesterday.


