Overnight, the most-traded SHFE tin contract closed at 264,950 yuan/mt, falling 20 yuan/mt or 0.01%. The highest was 265,200 yuan/mt, and the lowest was 263,040 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 0-100 yuan/mt over SHFE 2407 tin contract, versus discounts of 300 yuan/mt to premiums of 500 yuan/mt for delivery brands, and premiums of 300-800 yuan/mt for Yunxi brand. Tin prices swung on a soft note. Downstream companies, mostly having stocked up enough raw materials earlier, barely showed any purchasing interest. Yesterday, SHFE tin warrants decreased by 114 mt to 15,540 mt, while LME tin inventory increased by 25 mt to 4,820 mt.
