In the night session yesterday, the most-traded SHFE tin contract closed at 250,990 yuan/mt, down 7,010 yuan/mt, a decrease of 2.72%, with a high of 253,580 yuan/mt and a low of 249,600 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 premiums of 0-300 yuan/mt over SHFE 2408 tin contract, versus premiums of 500-800 yuan/mt for delivery brands and premiums of 1,000 yuan/mt for Yunxi brand. Yesterday morning, SHFE tin prices dropped significantly, and some traders' inventories were cleared out. Although the spot market's tin ingot premiums and discounts increased, it did not dampen the purchasing enthusiasm of downstream producers. Overall, the spot market transactions remained active yesterday.
