SMM Tin Market Morning Comment (Aug 13)

In the night trading session yesterday, the most-traded SHFE tin contract closed at 257,300 yuan/mt, up 180 yuan/mt, an increase of 0.07%, with a high of 259,430 yuan/mt and a low of 256,320 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 700-1,500 yuan/mt over SHFE 2409 tin contract, versus premiums of 500-1,000 yuan/mt for delivery brands and premiums of 1,000-1,400 yuan/mt for Yunxi brand. Tin prices continued to rise yesterday, and downstream producers' purchasing sentiment was low, with many adopting a wait-and-see attitude. Overall, the spot market was relatively quiet yesterday.