In the night session yesterday, SHFE 2407 tin contract closed at 263,700 yuan/mt, down 3,670 yuan/mt, a decrease of 1.37%. The highest price was 266,200 yuan/mt, and the lowest was 262,360 yuan/mt.
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 300-700 yuan/mt over SHFE 2407 tin contract, versus discounts of 500 yuan/mt to premiums of 300 yuan/mt for delivery brands and premiums of 0-500 yuan/mt for Yunxi brand. Tin prices moved rangebound yesterday. Downstream companies, mostly having stocked up enough raw materials earlier, barely showed any purchasing interest. Yesterday, SHFE tin warrants decreased by 303 mt to 16,788 mt, while LME tin inventory remained flat at 5,000 mt.
