SMM Morning Comment For Tin Market On August 25

SHANGHAI, Aug 25 (SMM) –

Overnight, SHFE 2309 tin contract price gradually rose slightly after the opening. After reaching a relatively high price of 216,010 yuan/mt, it fell back and finally closed at 216,680 yuan/mt, down 0.56%.

Spot premiums and discounts changed little on August 24 morning. Small brand tin ingots were offered at a discount of 200 to a small premium of 300 yuan/mt, delivery brands were offered at premiums of 200-600 yuan/mt, among which some enterprises with less inventory shipping at the premium of 700 yuan/mt. Yunxi brand was offered at premiums of 800-1,300 yuan/mt, and discounts of 500-700 yuan/mt for imported brands. The purchasing sentiment of downstream enterprises remained sluggish yesterday. Only a few traders said that the transaction was acceptable with shipment of around 30-50 mt. Most upstream enterprises purchased on demand and inquirers were limited yesterday.