SHANGHAI, Feb 14 (SMM) - SHFE tin fluctuated narrowly last night after opening high. The most-traded SHFE 2303 tin contract closed at 218,160 yuan/mt.
Domestic warrants remained stable from yesterday. The spot premiums were stable and the shipments remained flat from yesterday. The import window remained open.
SHFE tin prices fluctuated narrowly after opening last night. The most-traded SHFE 2303 tin contract closed at 218,160 yuan/mt, with open interest decreasing 5,063 lots. The open interest of SHFE 2304 and other forward-month contracts also decreased.
To sum up, SHFE tin prices fluctuated amid the eased long-short game. The spot market was stable amid the hight downstream raw material inventory. Imported tin continued to arrive, but imported goods were less cost-effective than the early stage. The overall demand for spot goods was weak, and the discounts were relatively stable.
