SMM Morning Comment For Tin Market On October 12

SHANGHAI, Oct 12(SMM) – SHFE 2311 tin contract rose rapidly after the opening of yesterday’s night session. After reaching a relatively high of 212,880 yuan/mt, it fell back and finally closed at 212,370 yuan/mt, up 0.64%. Spot premiums and discounts were slightly higher than yesterday. Small brand tin ingots were offered at premiums of 0-500 yuan/mt, premiums of 500-700 yuan/mt for delivery brands, premiums of 1,000-1,200 yuan/mt for Yunxi brands, and discounts of 200-300 yuan/mt for imported tin brands. Tin prices rebounded yesterday, but downstream companies were less willing to purchase due to sufficient stocks. The overall inventory of trading companies was relatively low, and most of them reported that spot sales were flat yesterday morning. Transactions in spot market decreased significantly.