Overnight, the most-traded SHFE tin contract closed at 276,500 yuan/mt, an increase of 7,560 yuan/mt or 2.81%. The highest price was 278,420 yuan/mt, and the lowest was 275,100 yuan/mt.
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 0-100 yuan/mt over SHFE 2407 tin contract, versus discounts of 200 yuan/mt to premiums of 500 yuan/mt for delivery brands and premiums of 300-800 yuan/mt for Yunxi brand. Tin prices rose yesterday, and transactions in the downstream market were relatively thin. Yesterday, SHFE tin warrants decreased by 78 mt to 15,462 mt, while LME tin inventory decreased by 155 mt to 4,665 mt.
