SHFE Tin Prices Once Fall Below 200,000 Yuan/mt

SHANGHAI, Mar 3 (SMM) - The SHFE 2304 tin contract fell and once fell below 200,000 yuan/mt, and closed at 200,490 yuan/mt, down 3.03%.

The domestic tin inventory under warrants increased further. The spot discounts of deliverable brands remained stable while that of small brands were still low. The market supply of imported goods were still insufficient.

The SHFE 2304 tin contract fell and once fell below 200,000 yuan/mt, and closed at 200,490 yuan/mt, down 3.03%.

To sum up, the trading volume and open interest of the most-traded SHFE tin contract increased significantly yesterday, implying an unstable market. The spot market was sluggish, reflecting that the raw material inventory of downstream enterprises was still sufficient. The demand is unlikely to pick up in the short term. In the follow-up stage, the market needs to pay attention to the changes in social inventory and the introduction of relevant policies during the Two Sessions.