SMM Tin Market Morning Comment (Jan 2)

Last Friday, spot premiums and discounts in domestic spot market for various tin ingot brands were as below. Small brand tin ingots were offered at discounts of 0-800 yuan/mt over SHFE 2402 tin contract, versus premiums of 400-800 yuan/mt for delivery brands, premiums of 600-1100 yuan/mt for Yunxi brand, and discounts of 500-2000 yuan/mt for imported brand tin ingots. Tin prices inched lower and then rebounded last Friday, and traders reported that the purchasing sentiment of downstream companies remained sluggish. The trading volumes of most traders were around 10 mt, and the spot market transactions remained sluggish last Friday.