SMM Morning Comment For Tin Market On September 28

SHANGHAI, Sep 28 (SMM) – SHFE 2311 tin contract maintained sideways after opening on yesterday’s night session and then moved weakly before finally closing at 217,460 yuan/mt, down 1.19%. Spot premiums and discounts barely changed yesterday. Small brand tin ingots were offered at premiums of 0-300 yuan/mt, premiums of 300-600 yuan/mt for delivery brands, premiums of 800-1,100 yuan/mt for Yunxi brands, and discounts of 400-500 yuan/mt for imported tin brands. There are also many forward quotations for imported tin ingots in October with discounts of 1,000-1,500 yuan/mt. Previously, downstream companies had basically completed tin ingot replenishment. SHFE tin prices dropped again yesterday, encouraging a few downstream companies to continue to purchase but with limited quantity. Most traders reported that the shipment yesterday morning was flat at 20 mt or even below.