SHFE 2403 tin contract inched lower and then rebounded, before closing at 219,000 yuan/mt overnight, up 0.41%.
Yesterday, 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 300-1,000 yuan/mt against SHFE 2403 tin contract, versus discounts of 200 yuan/mt to premiums of 400 yuan/mt for delivery brands, premiums of 300-800 yuan/mt for Yunxi brand, and discounts of 1000-1100 yuan/mt for imported brand tin ingots. Yesterday, tin prices swung on a soft note. Downstream companies barely showed any purchasing interest. Traders reported that inquiries and purchasing were poor.
