SHANGHAI, Feb 15 (SMM) - SHFE tin fell last night. The most-traded SHFE 2303 tin contract closed at 211,510 yuan/mt.
Fundamentally, affected by the intensive delivery of smelters, the domestic warrant inventory increased significantly yesterday. The spot premiums narrowed and the shipments remained flat from the previous day. The import window remained open.
SHFE tin prices fell after opening last night and the most-traded SHFE 2303 tin contract closed at 211,510 yuan/mt, with open interest increasing 165 lots. The open interest of SHFE 2304 and other forward-month contracts increased.
To sum up, SHFE tin prices continued to decline and the downstream raw material inventory was high. Imported tin continued to arrive, but imported goods were less cost-effective than the early stage. The overall demand for spot goods was weak, and the discounts were relatively stable.
