SMM Tin Morning Comment (Nov 23)  

SHFE 2312 tin contract fell to 205010 yuan/mt overnight and closed at 205640 yuan/mt, down 0.92%.
Yesterday, spot premiums and discounts in domestic spot market for various tin ingot brands were as follows: Small brand tin ingots were offered at discounts of 200 and premiums of 300 yuan/mt over SHFE 2312 tin contract, versus premiums of 400-700 yuan/mt for delivery brands, premiums of 900-1100 yuan/mt for Yunxi brand, and discounts of 500-700 yuan/mt imported brand tin ingots. Tin prices continued to fall yesterday, and the purchasing enthusiasm of downstream companies has increased slightly. However, some companies still maintained a wait-and-see attitude. Most trading companies traded 10-20 mt in the morning.