SHANGHAI, Aug 21 (SMM) –
On last Friday's night session, SHFE 2309 tin contract price rose rapidly after the opening. Then it maintained a sideways range of fluctuations and finally closed at 212,980 yuan/mt, up 0.1%.
Spot premiums and discounts changed little on August 18 morning. Small brand tin ingots were offered at discounts of 200 yuan/mt, some of these shipped at premium 300 yuan/mt. Delivery brands were offered at premiums of 200-500 yuan/mt, among which some enterprises with less inventory shipping at the premium of 700 yuan/mt. Yunxi brand was offered at premiums of 900-1,200 yuan/mt, and discounts of 500 yuan/mt for imported brands. Although tin prices rebounded last Friday, the trading sentiment was still depressed as many downstream buyers had stocked enough raw materials earlier. Most traders reported a sharp drop in spot shipments last Friday compared with the previous trading day.
