SMM Tin Market Morning Comment (Apr 25)

SHFE 2405 tin contract rebounded slightly after opening lower, closing at 254,570 yuan/mt, up 0.53%.
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 600-1,400 yuan/mt for SHFE 2405 tin contract, versus discounts of 0-1,000 yuan/mt for delivery brands and premiums of 200-400 yuan/mt for Yunxi brand. In yesterday's early trading, SHFE 2405 tin contract remained stable. After a short period of wait-and-see, downstream companies purchased only as needed and stocked up in small quantities.