SMM Tin Market Morning Comment (Jun 14)

Overnight, the most-traded SHFE tin contract closed at 270,510 yuan/mt, down 4,460 yuan/mt, with a decrease of 1.62%. The highest price was 274,700 yuan/mt, and the lowest was 268,900 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 100 yuan/mt to premiums of 100 yuan/mt over SHFE 2407 tin contract, versus discounts of 200 yuan/mt to premiums of 400 yuan/mt for delivery brands and premiums of 400-800 yuan/mt for Yunxi brand. Tin prices fell slightly yesterday. Overall, the spot market was relatively quiet. SHFE tin warrant inventory increased by 92 mt to 15,554 mt, while LME tin inventory remained flat at 4,665 mt.